It wasn’t long ago that a New York Times bombshell of business relationships between the president’s son and a foreign company was covered on all sides, but that was not the case with the paper’s latest report on Hunter Biden.
According to the Times, an investment firm that Biden found among its founders helped Chinese While his father, Joe Biden, was vice president, the company bought one of the world’s most lucrative cobalt mines from an American company. This renews concerns about potential conflicts of interest and whether the incumbent president was aware of his son’s business relationships that he had previously denied.
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However, the stunning report published by the Times was left untreated, according to transcripts on CNN, MSNBC, ABC, CBS and NBC.
The lack of control over President Biden’s son is nothing new. In the final weeks of the 2020 presidential election, liberal networks are known to have avoided covering Hunter Biden’s devastating laptop, which further sheds light on his overseas operations.
CNN, in particular, spiced up Hunter Biden’s story when his top bosses were caught on leaked audio tapes saying “We’re Not Going With” the bomb first reported by the New York Post.
According to the New York Times report, Hunter Biden founded Bohai Harvest RST (BHR) Equity Investment Fund Management Company in 2013 with two other Americans and some Chinese partners. The American members controlled 30 percent of the Shanghai-based company and were on the board of directors.
In particular, the company closed a deal in 2016 in which a cobalt and copper mine in the Congo was transferred from the American company Freeport-McMoRan to the Chinese company China Molybdenum for $ 2.65 billion.
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BHR served as a minority shareholder in the purchase of approximately $ 1.14 billion worth of shares in Lundin Mining of Canada, which owned part of the Congo mine.
China Molybdenum then bought BHR’s stake in the mine two years later, according to Hong Kong filings. The deal resulted in China owning 80% of the mine molybdenum, with the remaining portion owned by the Congo’s state-owned mining company.
The Time reported that Biden controlled 10 percent of BHR through Skaneateles LLC, a Washington-based company.
Chris Clark, a lawyer for Biden, said he was “no longer directly or indirectly involved in BHR or Skaneateles,” and Chinese records showed that Biden was not a member of the board as of April 2020.
But Chinese Companies records According to a Fox News review in April 2021, Hunter Biden continued to hold a 10% stake in the Chinese private equity firm Bohai Harvest RST Equity Investment Fund Management Co. Hunter’s company, Skaneateles LLC.
“He’s been working to get his investment going, but I’m sure I want to point this out to you – he’s a private individual,” said White House press secretary Jen Psaki at the time. “I would refer you to him or his lawyers with every update.”
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“We don’t know Hunter Biden, nor do we know of his involvement in BHR,” Vincent Zhou, a spokesman for China Molybdenum, said in an email.
The deal was first reported by the Washington Free Beacon in January 2020.
Hunter Biden’s business relationships are examined intensively, in particular by the media his activity in China. President Biden specifically warned of China’s growing dominance of cobalt as a stumbling block for America’s attempts to switch from gasoline to electric cars, given that cobalt is an important part of electric car batteries.
Fox News’ Peter Aitken contributed to this report.