The Democrats have a new motto. One for all, and all for China. Well, if that’s not their motto, it should be. The only bigger slaves to China is the NBA and the Uyghurs, in that order. Up until now, this deal has not met with much scrutiny, but like everything else the Bidens do and have done, it is a major boon for China.
This deal gives China a huge advantage in the mining of cobalt. And in case you aren’t aware of it, making batteries for electric cars requires a lot of cobalt for the batteries. So, if Biden gets the huge volume of electric vehicles in the near future, China stands to make a lot of money from American companies wanting to build batteries. But, China could make much more money if they keep the cobalt and force American companies to purchase the entire batteries from their manufacturers.
In 2013, the same year that Joe Biden became vice president, Hunter became partners with two other American companies and several Chinese companies to form Bohai Harvest RST (BHR) Equity Investment Fund Management Company . That company completed a deal in 2016 that turned over an 80% stake in an American-owned mine in the Congo, that produced cobalt and copper.
The mine transfer went from American company Freeport-McMoRan to Chinese outfit China Molybdenum for the sum of $2.65 billion. BHR bought the stake in 2016 and then sold it to China Molybdenum two years later. BHR no longer has an interest in the mine.
BHR served as a minority stakeholder to buy out around $1.14 billion of shares from Lundin Mining of Canada, who owned a portion of the Congo mine.
China Molybdenum then bought BHR’s shares of the mine two years later, according to Hong Kong filings. The deal resulted in China Molybdenum owning 80% of the mine, with the remaining portion owned by Congo’s state mining enterprise.
The Times reported that Biden controlled 10 percent of BHR through Skaneateles LLC, a company based in Washington.
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Chris Clark, a lawyer for Biden, said he “no longer holds any interest, directly or indirectly, in either BHR or Skaneateles,” and Chinese records indicated Biden was not a member on the board as of April 2020.
But Chinese business records reviewed by Fox News in April 2021 showed that Hunter Biden continued to hold a 10% stake in Chinese private equity firm Bohai Harvest RST Equity Investment Fund Management Co. through Hunter’s company, Skaneateles LLC.
“He has been working to unwind his investment, but I would certainly point you — he’s a private citizen,” Psaki said at that time. “I would point you to him or his lawyers on the outside on any update.”