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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 |
| 2021-11-21 |
[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
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| Posted by:Skidmark |