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Hunter Biden’s firm helped China gain control of electric-car mineral: report

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Hunter Biden’s funding firm helped dealer a 2016 deal that gave a Chinese state-backed firm control of an enormous African mine wealthy in cobalt — a mineral important for the manufacturing of electrical automobile batteries.

The deal, first reported by the Washington Free Beacon throughout the 2020 presidential marketing campaign, was spotlighted by the New York Times Saturday as Congress inches nearer to approving President Biden’s $2 trillion social spending plan, which earmarks billions of {dollars} to advertise electrical autos.

In 2016, an funding firm based by Hunter Biden with a number of Chinese companions was lower into a posh $3.8 billion transaction that transferred 80 % of Congo’s Tenke Fungurum mine from an American firm to Beijing-backed China Molybdenum.

President Joe Biden, Hunter Biden’s father, was the sitting vp when the deal was struck.

The mine is one of the world’s largest sources of cobalt — and China’s control of the mineral “presents a critical vulnerability to the future of the U.S. domestic auto industry,” Biden’s White House reported in June.

A White House spokesman stated that Joe Biden had no data of his son’s involvement with the sale, the Times reported.

Tenke Fungurume, a copper and cobalt mine northwest of Lubumbashi in the Democratic Republic of Congo.
Tenke Fungurume, a copper and cobalt mine northwest of Lubumbashi within the Democratic Republic of Congo.
REUTERS/Jonny Hogg//File

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