In 2016, Hunter Biden’s firm with several Chinese partners helped broker a complex $3.8 billion transaction transferring 80 percent of the Congo mine from an American company to China Molybdenum, a state-backed consortium.
Hunter was given a 10 percent stake in the company in 2017 and kept the investment after he resigned from the board in October 2020. He was forced to resign due to the blatant conflict of interest with his father’s presidential campaign.
BHR’s investments include the largest cobalt and copper mine in the Democratic Republic of Congo. The Tenke Fungurume mine is where in the summer of 2020 the Congolese military crackdown on illegal mining. The military burned local homes and was responsible for at least one murder.
At the time human rights groups were condemning the operations.
On Saturday the New York Times reported the story. Congress is closer than ever to approving President Biden’s $2 trillion social spending plan. The plan earmarks billions of dollars to promote EVs.