very interesting summary of Biden's Chinese deals (h/t Shana Lin) baldingsworld.com/wp-content/upl…
Turns out that the Bidens' Bohai Harvest (BHR) was almost immediately involved in huge mining deal for Tengke Fungurume cobalt-copper mine in Congo. Breathtaking.
Turns out that the Bidens' Bohai Harvest (BHR) was almost immediately involved in huge mining deal for Tengke Fungurume cobalt-copper mine in Congo. Breathtaking.
2/ In 1970s, I worked for then largest Canadian copper business and have known about this famous ore body all my working life. The deal for Biden's Bohai, as summarized (and I haven't crosschecked the summary against documents), is unlike any transaction that I've ever heard of.
3/ the author of this report stated that "this is cannot be considered a market-based transaction. BHR provided no value to the transaction". Sure looks that way to me as well.
4/ the authors go on to describe further non-economic steps in transaction, concluding "BHR involvement seems less about value creation and generating investment returns for preferred individuals". Sure looks that way to me. Maybe even a cleverly disguised payoff or bribe
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