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Hunter Biden's private equity firm helped Chinese conglomerate buy American-owned cobalt mine in $3.8 billion deal: Purchase helped China company gain world's largest deposit of precious metal used to make batteries for electric vehicles
[Daily Mail, where America gets its news]
  • Hunter Biden's investment firm partnered with a Chinese company to buy the world's larges cobalt mine from an American company in 2016

  • Biden was one of three Americans who founded the BHR private equity firm with Chinese partners in 2013

  • The firm helped buy out a minor stakeholder in the Congo's Tenke Fungurume cobalt mine to help China Molybdenum buy it from Freeport-McMoRan

  • The $3.8 billion deal helped secure China's dominance over the precious metal, which is one of the key components of the batteries used for electric vehicles

  • Earlier this year, Biden had warned that America's electric car development could be threatened by China's control over cobalt

Posted by: Skidmark 2021-11-21
http://www.rantburg.com/poparticle.php?ID=618068