Episode 80: Discovery of Ore
An old man grumbled as he looked up at the peach tree.
“Again… the birds have pecked at it again. These pesky birds have no manners. I should just spray some pesticide and get rid of them all.”
Lee Chang-jin cautiously approached the old man and greeted him.
“Hello. Are you the owner here?”
The old man, who was watering the plants, glanced at Lee Chang-jin before turning his attention back to the field.
“Ah, who are you?”
“Yes, I am Lee Chang-jin from a company called Daese Construction. Are you Mr. Ahn Jong-bok?”
“That’s right. I am Ahn Jong-bok. What brings you here?”
Despite his words, the old man did not stop watering the plants.
Lee Chang-jin, maintaining a businesslike smile, politely asked,
“Ah, I was hoping to discuss renting the abandoned mine you own for a while. May we talk?”
“The abandoned mine? Ah, you’re referring to the gold mine in the Cheonwangbong area.”
“Yes, that’s correct.”
Realizing that Lee Chang-jin was not a nuisance, the old man’s demeanor quickly became friendly.
“Hmm, alright. It’s not suitable to talk here. Come inside.”
Inside the wooden house, the space was much larger than it appeared from the outside. The scent of cypress subtly filled the air. After a while, the old man returned from the kitchen with some lotus leaf tea and a few dried persimmons.
“The house is humble, so there’s not much to offer. This is all I have.”
“Thank you. I’ll enjoy it.”
The well-dried lotus leaf tea had a rich aroma.
Savoring the tea, Lee Chang-jin carefully broke the ice.
“It’s quite cozy here. Do you live here alone?”
The old man sighed as he set down his tea.
“Well, my children have moved out, and it’s been a long time since my spouse passed away. My sons are all in Seoul. Living alone like this is more comfortable than being a burden.”
“Hmm, I see.”
Lee Chang-jin looked around the living room.
In the closet, there were rows of uniquely shaped stones.
After a brief pause, the old man spoke.
“Let’s get to the point. You said you wanted to rent the abandoned mine. What exactly do you plan to do with it?”
Lee Chang-jin straightened his posture and replied,
“Ah, I run a construction company, and we’re currently working on a logging road nearby. We need a place for the workers to stay and a storage for materials and equipment.”
“A place for both lodging and storage… that’s a bit ambiguous. How long do you plan to rent it?”
“About one to two years. We’ll restore it to its original state once we’re done.”
“That’s a bit short, and it’s a hassle to check everything later. Instead of renting, why not buy it? I’ll sell it to you at a low price.”
“Pardon? What do you mean?”
“I mean, instead of renting it, just buy it. It’s an abandoned mine, but it’s not completely shut down. It was temporarily closed due to low profitability. The price of raw materials fluctuates, so you can always revive it later.”
“That…”
Lee Chang-jin was taken aback by the unexpected proposal.
He had never considered buying a mine.
In fact, Lee Chang-jin was not keen on the old man’s proposal.
Gold mines, by nature, don’t yield much profit. After 1958, gold mines disappeared due to reduced mining volumes and the liberation of gold imports, making them unprofitable.
Why would he buy a mine with low profitability?
But Lee Chang-jin was a businessman to his core.
To avoid offending the old man, Lee Chang-jin carefully said,
“If you think that way, wouldn’t it be better to hold onto it long-term? You could leave it for your children in the future.”
The old man suddenly coughed.
Cough, cough.
Lee Chang-jin quickly brought him some warm water.
“Are you alright, sir?”
“You asked why I would sell it, right? Look at me. Do you think I have any reason to hold onto it? I’m 87 years old. I’m at an age where I could die without any regrets. What would be the point of waiting any longer? It would be fortunate if I could at least leave enough for my funeral expenses to avoid burdening my children.”
After a moment of silence, Lee Chang-jin asked,
“Then, how much are you asking for the abandoned mine?”
“18 million won. I’ll hand over everything as-is.”
Ha, Lee Chang-jin held back a sigh.
Considering the officially assessed land value, the price was outrageous.
‘This old man is being greedy.’
Despite his frustration, Lee Chang-jin avoided giving an immediate answer.
“Hmm… the price is high, so I’ll need to think about it a bit more.”
“I hope you decide quickly. I don’t think I’ll last much longer. And I have no intention of a long-term lease. I’m sure I’ll die before then.”
It was a clear indication that the old man had no intention of considering a lease.
“Then I’ll think it over and get back to you.”
As Lee Chang-jin, feeling uneasy, stood up, the old man handed him a document envelope.
“What is this?”
“It’s the mineral test analysis result commissioned by the Korea Resources Corporation. It might be useful, so take a look.”
Out of courtesy, Lee Chang-jin accepted the envelope.
Back at his office, Lee Chang-jin inquired about other mines or locations.
However, disappointingly, there were no places that met his requirements.
“Did you roughly check the condition of the mine?”
“Yes, it turns out it was mined by Mitsubishi during the Japanese occupation. It was later reclaimed as enemy property but closed down after a few years due to low profitability.”
Manager Gu Chang-dong added,
“The exploration results are mediocre. The quality is decent, but the ore is thinly distributed near the surface, so the mining cost would be enormous. Considering the economics, it’s a loss-making deal.”
“Didn’t they say there was a lot of coal buried there as well?”
“Yes, but there’s already an excess of coal in the country. Even if coal prices doubled, it would be hard to make a profit.”
“Exactly. If it were a good mine, why would they sell it to someone else? They’d develop it themselves no matter what.”
Agreeing with Manager Gu, Director Seo said to Lee Chang-jin,
“That old man seemed determined not to rent it out. There’s no reason to buy such a burden and get taken advantage of, is there, President Lee? Not being able to rent it doesn’t mean we can’t proceed with the construction.”
Consultant Hong In-young also nodded in agreement.
“That’s right. This project was never about making a huge profit from the start; it was about gaining experience. Managing an unnecessary mine would just be more work. Let’s consider this deal off the table.”
“Hmm…”
However, Lee Chang-jin’s lingering regret wasn’t for such simple reasons.
While reviewing the document, something caught his eye.
- There is a possibility of rare metals being present in Area 19.
When he asked Professor Kim Hak-do about it, the professor laughed and said,
“Ha ha, President Lee, you’re quite naive. Rare metals are found in most mining areas. When you develop a mining site, other metals naturally come out as well.”
“But if the ratio is good, wouldn’t it be commercially viable?”
“Even if it were, how would you dig up an entire mountain? If you knew specific spots to develop from the start, maybe. Considering the exploration costs, it’s just a pipe dream.”
Despite Professor Kim Hak-do’s words, Lee Chang-jin remained intrigued.
What if there were undeveloped mining areas left?
What if there were hidden ores? It would be a jackpot.
‘You never know. There could be unexpected riches.’
Driven by curiosity and a sense of possibility, Lee Chang-jin decided to conduct an additional on-site inspection.
As he entered the sparsely populated mountain valley, Lee Chang-jin noticed a peculiar scene.
There was a massive pile of crushed rocks in front of the mine entrance.
Whirr~ Clang, clang…
The sound of drilling through rock echoed loudly from outside the tunnel.
Judging by the sound, it was definitely a jumbo drill.
The floor of the mine entrance was littered with gray dust-covered ores.
“Wasn’t this place supposed to be closed?”
“Yes, that’s what I heard too, but there seems to be a mistake.”
What was going on? As they examined the surroundings, they discovered a tunnel extending over 1km to the underground mining site. By listening closely, they could hear the thumping sound of work being carried out inside.
“It seems like there are still workers inside. Shall we go in?”
“No, that’s not necessary. Let’s wait.”
After waiting for a while, the drilling noise stopped abruptly. Soon, women in their 50s wearing rubber gloves and work pants emerged.
Their faces were blackened, and they were all dressed in miner’s clothes.
As they stepped out, they were startled to see Lee Chang-jin and his team.
“Oh my! Are the police here?”
“Again? What should we do?”
Facing Manager Gu Chang-dong, the women looked terrified.
Feeling awkward, Manager Gu tried to talk from a distance.
“Ma’am, we’re not bad people.”
“Don’t lie. It says ‘gangster’ all over your face…”
“Ga… gangster?”
“Isn’t it obvious? Are you using hired thugs to kick us out now?”
“That’s really dirty. Disgusting.”
Feeling wronged, Manager Gu protested.
“No, it’s really not like that.”
“Shut up! Get lost. We’re not leaving this place.”
“Yeah. Come closer, and I’ll smash your head with a sledgehammer!”
The women, holding tools, took a defensive stance.
Seeing that Manager Gu’s tough appearance was making them wary, Lee Chang-jin stepped in.
“Ha ha, there’s no way. I’m a contractor working on a logging road nearby. We heard some machinery noise while passing by and stopped by out of curiosity.”
“Huh? Are you not from the government sent to arrest us?”
“Absolutely not. We’re not related to any government officials.”
One of the women, still nervous, responded cautiously.
“You’re really not going to report us?”
“Of course. But I’d like to have a conversation if possible. Could we talk for a moment?”
After exchanging glances, the women nodded.
“Alright, what do you want to know? Ask away.”
“I heard this area was all abandoned mines… is there still an operating mine?”
“Of course not. It closed a long time ago. We work here because we have no other means to survive.”
“You must have a hard time. But where are your husbands? Why do you do such tough work?”
One of the women calmly replied,
“My husband? He passed away from pneumoconiosis a few years ago. All the people left here are widows. Why would a woman with a healthy husband do this kind of work?”
“Oh, I see… I’m sorry.”
“There’s no need to apologize. It’s all in the past.”
Sensing the solemn atmosphere, Lee Chang-jin quickly changed the subject.
“By the way, what’s with those discarded materials outside? They look like ores…”
“Oh, that. Those are waste ores. They’re low in gold purity, so they’re worthless.”
Lee Chang-jin carefully examined the pile of waste ores.
Though deemed useless, the ores had metal specks embedded in them, sparking his interest.
“Then, can I take some of these?”
“Of course. Take as much as you want.”
After the conversation, Lee Chang-jin collected some of the discarded ores.
Back at the base camp, Lee Chang-jin sought out Professor Kim Hak-do again.
“Professor Kim, could you identify this for me?”
“What is it? It looks like iron ore.”
“I wasn’t sure, so I brought it.”
“Hmm, let’s take a look.”
Curious, Professor Kim took out a loupe and examined the ore.
After a long inspection, Professor Kim looked up and seriously asked,
“President Lee, where did you get this?”
“I found it at a nearby abandoned mine. Do you know what it is?”
“Of course, I do. This is molybdenum ore. I didn’t expect to see this here…”
“What? Molybdenum?”
Lee Chang-jin was astonished at the revelation.
- Continued in Episode 81 -
