As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by NYTimes.com:
An investment firm where Hunter Biden, the president’s son, was a founding board member helped facilitate a Chinese company’s purchase from an American company of one of the world’s richest cobalt mines, located in the Democratic Republic of Congo.
Mr. Biden and two other Americans joined Chinese partners in establishing the firm in 2013, known as BHR and formally named Bohai Harvest RST (Shanghai) Equity Investment Fund Management Company.
The article goes on to state the following:
The three Americans, all of whom served on the board, controlled 30 percent of BHR, a private equity firm registered in Shanghai that makes investments and then flips them for a profit. The rest of the company is owned or controlled by Chinese investors that include the Bank of China, according to records filed with Chinese regulators.
The bombshell report revealed that BHR helped finance an Australian coal-mining company controlled by a Chinese state-owned firm.
BHR also assisted in the sale of a Michigan auto parts marker to a subsidiary of a Chinese defense conglomerate.
In 2016, BHR purchased a stake in CATL, a fast-growing Chinese company that is now the world’s largest maker of batteries for electric vehicles, the Times wrote, adding that BHR later sold their share in the company.
According to the extensive report by the New York Times, Hunter Biden is no longer affiliated with BHR. However, the Times concludes their article with the following:
But BHR’s role in the Chinese mine purchase was not a major focus. It has taken on new relevance because the Biden administration warned this year that China might use its growing dominance of cobalt to disrupt America’s retooling of its auto industry to make electric vehicles. The metal is among several key ingredients in electric car batteries.
When asked if the president had been made aware of his son’s connection to the sale, a White House spokesman said, “No.”
CLICK HERE to read the entire report by the New York Times, just published on Saturday.
Hunter Biden was part owner of a venture involved in the purchase by a Chinese conglomerate of one of the world’s largest cobalt deposits. The metal is a key ingredient in batteries for electric vehicles. https://t.co/CAAhqs9mDt
— The New York Times (@nytimes) November 20, 2021
To get more information about this article, please visit NYTimes.com.
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