Hunter Biden helped Chinese conglomerate buy world's largest cobalt mine in a $3.8 billion deal. The purchase helped the Chinese company gain world's largest deposit of precious metal used to make batteries for electric vehicles.
The world's largest cobalt mine was procured by Hunter Biden's investment company from an American firm in 2016Biden was one of three Americans who founded the BHR private equity firm with Chinese partners in 2013The firm helped buy out a minor stakeholder in the Congo's Tenke Fungurume cobalt mine to help China Molybdenum buy it from Freeport-McMoRanThe $3.8 billion deal helped secure China's assertion over the precious metal, which is one of the key components of batteries used in electric vehiclesEarlier this year, Biden had warned that the development of American electric vehicles could threaten China's control over cobalt
An investment company founded by Hunter Biden helped a Chinese company buy one of the world's richest cobalt mines from...
Full Access
Included:
-
Access to All Articles.
-
One Plan. No Tiers.
-
No Ads.
-
Cancel anytime.
