Presidential son Hunter Biden’s most recent controversy—assisting a Chinese company’s purchase of a large cobalt mine—is linked directly to a top Biden administration policy of promoting electric vehicles.
Cobalt is a rare and expensive mineral that is essential for batteries that power electric cars. The COVID-19 pandemic also made U.S. officials and the public much more aware of Communist China’s control of the supply chain for drugs and other products.
51-year-old Biden was a partner in Bohai Harvest RST, also known as BHR, but he is still a stakeholder.
The New York Times first reported over the weekend that BHR facilitated mining company China Molybdenum’s $2.65 billion purchase of a cobalt and copper mine from an American company, Freeport-McMoRan.
>>> ‘Invest in Joe’: How Hunter Biden’s Financial Deals Extend Beyond Ukraine
Congressional Republicans already have made inquiries about Hunter Biden’s art deals.
Rep. Ken Buck (R-Colo.), during an October hearing by the House Judiciary Committee, Buck asked Attorney General Merrick Garland to appoint a special prosecutor to investigate Hunter Biden’s business deals. Garland replied that he would take it “under advisement.”
“I have called for Attorney General Garland to appoint a special counsel to investigate Hunter Biden’s corrupt business dealings. This new report shows exactly why it’s necessary,” Buck told The Daily Signal in a statement Tuesday.
The new revelation only adds to existing concern about the younger Biden’s use of his father’s position, first as vice president and then as president, a spokeswoman for the GOP committee members said.
“More evidence continues to mount revealing that Hunter Biden’s business dealings and new career as an artist pose national security risks and conflicts of interest,” she told The Daily Signal, adding:
The latest news [that]Hunter Biden helped a Chinese firm purchase one of the most important cobalt mines. This is yet another example of Hunter Biden using influence to help a foreign enemy and line his pockets. Conducting oversight of Hunter Biden’s questionable ethics and dealings that undermine our national security will continue to be a top priority for Oversight [Committee] Republicans.
The committee’s ranking Republican, Rep. James Comer, R-Ky., tweeted: “By helping Chinese companies mine rare minerals in Congo, Hunter Biden is helping Communist China corner the Electric Vehicle market that @POTUS is subsidizing here at home.”
Comer added: “Hunter Biden is a NATIONAL SECURITY THREAT.”
President Joe Biden supported the $2 trillion social-energy spending bill that was passed Friday by Congress. It includes $320 billion in tax subsidies for electric cars, solar energy and wind turbines. This amount includes a $4500 tax rebate for Americans who purchase electric vehicles.
Hunter Biden’s international business interests long have been a publicity headache for his father, dating to some of the elder Biden’s 36 years in the U.S. Senate and his eight years as vice president.
The U.S. Attorney’s Office in Delaware continues to investigate Hunter Biden on tax-related matters.
Republicans are the minority in both Houses of Congress and do NOT have subpoena authority. However, GOP members often write letters of inquiry for the White House and federal agencies.
The Times reported that the cobalt mine, located in the Democratic Republic of Congo, is “one of the world’s richest cobalt mines.” BHR, which with the younger Biden is affiliated, helped to complete the 2016 sale of the cobalt mine by Freeport-McMoRan to China Molybdenum, the Times reported.
The White House did not respond to The Daily Signal’s inquiry Tuesday for this story.
The New York Times reported that a White House spokesman answered “No” when asked whether the president was aware of his son’s connection to the sale of the cobalt mine.
Hunter Biden and two other Americans served on BHR’s board and controlled 30% of the private equity firm. The rest was controlled by Chinese investors, including the Bank of China.
Hunter Biden flew Air Force Two from the United States to China with his father (the vice president at the time) on Dec. 4, 2013. The elder Biden met Chinese President Xi Jinping. The younger Biden met Jonathan Li, his BHR business partner and arranged a meeting with his father.
BHR purchased $1.14 billion worth of shares from Canada’s Lundin Mining Corp.. Lundin Mining Corp. owned a small portion of the Congo cobalt mine. China Molybdenum bought BHR’s shares of the mine two years later, the Times reported.
As a result, China now owns 80% of the cobalt mine and Congo’s state mining enterprise owns the rest. BHR was sold in 2019 by Hunter Biden, who controlled 10% of BHR via Washington, D.C. Skaneateles LLC.
Hunter Biden’s lawyer, Chris Clark, did not respond to an inquiry from The Daily Signal. Clark told the Times that his client “no longer holds any interest, directly or indirectly, in either BHR or Skaneateles.”
Fox News, however, is not. reported in April that business records show the president’s son continued to own a 10% stake in BHR.
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