Chinese dominance in the market of an essential ingredient in electric vehicle batteries was helped along by the efforts of Hunter Biden, according to a new report.
As noted by the website mining.com, the Democratic Republic of the Congo holds 51 percent of the world’s cobalt.
The website noted that China’s efforts to corner the cobalt market “could pose a threat to western market participants” based on an industry expert report, saying that the partnership between China and Congo “could pose problems to those in the West.”
All that was in the future when, while Joe Biden was vice president, Hunter Biden was doing business with China through a company called BHR. The company was created in 2013 and was formally named Bohai Harvest RST (Shanghai) Equity Investment Fund Management Company, according to The New York Times.
Hunter Biden and two American associates made up a minority interest in the investment company, the report said, with Chinese investors making up the rest.
More of that "Russian disinformation" that would have been very useful to voters prior to November 2020.
The media censored reports on Hunter Biden's dealings in China.
Biden is bought.
"How Hunter Biden’s Firm Helped Secure Cobalt for the Chinese"https://t.co/09IHMAG4jQ
— Joel Pollak (@joelpollak) November 21, 2021
A Senate report on Hunter Biden’s activities said BHR “was eventually formed as an investment fund and is reportedly ‘controlled and funded primarily by large Chinese government-owned shareholders’ and is 80% controlled by Chinese entities.”
In 2016, according to the Times, Hunter Biden’s firm played a key role in helping a Chinese company called China Molybdenum buy Tenke Fungurume, a cobalt and copper mine, from Freeport-McMoRan, an American company. Its role was to partner to buy out Lundin Mining of Canada, a minority partner in the mine.
According to records in Hong Kong, as part of the multi-billion-dollar deal, “the $1.14 billion BHR, through subsidiaries, paid to buy out Lundin came entirely from Chinese state-backed companies.”
Hunter Biden’s investment firm later sold its stake in the mine back to China Molybdenum.
Can't Make This Up: Hunter Biden firm helped Chinese company secure $3.8B cobalt mines – Earlier this year, his father, President Joe Biden, warned that America's electric car development could be threatened by China's control over cobalt https://t.co/KvjytL153I
— Jon Najarian (@jonnajarian) November 21, 2021
When BHR sold its share in 2019, Hunter Biden held a 10 percent interest in the company through Skaneateles LLC.
Skaneateles is solely owned by Hunter Biden, according to a report in the Washington Examiner.
The unusual name for a firm investing in China matches the name of the home town of President Joe Biden’s first wife, Neilia, who is also Hunter Biden’s mother.
The report noted that the LLC’s address matches a previous residence for Hunter Biden.
Chinese records list Skaneateles as a part owner of BHR, but Chris Clark, a lawyer for Hunter Biden, said that he “no longer holds any interest, directly or indirectly, in either BHR or Skaneateles.”
“We don’t know Hunter Biden, nor are we aware of his involvement in BHR,” said Vincent Zhou, a spokesman for China Molybdenum, in an email to the Times.
— Representative Lisa McClain (@RepLisaMcClain) November 20, 2021
The Times report said it tried to get White House reaction and phrased its response this way: “When asked if the president had been made aware of his son’s connection to the sale, a White House spokesman said, ‘No.’”