Hunter Biden’s firm helped Chinese company purchase rich cobalt mine in $3.8 billion deal: report – IOTW Report

Hunter Biden’s firm helped Chinese company purchase rich cobalt mine in $3.8 billion deal: report

FOX: Biden’s business ties may have continued into the early days of his father’s presidency.

An investment firm that counts Hunter Biden among its founders helped a Chinese company purchase one of the world’s most lucrative cobalt mines from an American company, according to a report by The New York Times. 

Biden established the firm Bohai Harvest RST (BHR) Equity Investment Fund Management Company with two other Americans and some Chinese partners in 2013. The American members controlled 30 percent of the Shanghai-based operation and served on the board. 

The company notably completed a deal in 2016 that saw a Congo cobalt and copper mine transfer from American company Freeport-McMoRan to Chinese outfit China Molybdenum for the sum of $2.65 billion. 

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.  more here

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