Tue. Nov 30th, 2021

The company, linked to US President Joe Biden’s son Hunter, helped a Chinese company buy a cobalt mine in the Democratic Republic of Congo (DRC) in 2016, The New York Times reported.

According to the newspaper, in 2013, Hunter Biden with two other Americans participated in the creation of the investment firm BHR, which is registered in Shanghai. They got 30% of the shares in the company, and 70% went to Chinese investors, including Bank of China.

In 2016, Biden’s company was involved in the acquisition of the Tenke-Fungurume mine in the DRC by the Chinese firm China Molybdenum.

BHR was involved in raising funds to buy back securities. Biden’s company managed to raise more than $ 1 billion, and the Chinese firm received 80% of the shares of the world’s largest cobalt mine.

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