Hochschild Mining walks away from Canadian gold project

Cecilia Jamasmie | April 5, 2023 |

Snip gold project. (Image courtesy of Hochschild Mining.)

Hochschild Mining (LON: HOC) has informed Skeena Resources (NYSE: SKE) (TSX: SKE) that it is ending its option to earn in a 60% interest in the Canadian miner’s Snip gold project, located in the Golden Triangle of British Columbia.


The precious metals producer said termination of the option, through its wholly-owned subsidiary Hochschild Mining Canada Corp., is effective immediately, adding it has no liability to complete the aggregate expenditure requirement.

In 2021, the London-based miner agreed to spend about C$100 million ($74m) over a three-year period, which would have granted a majority stake in the project.

To date, Hochschild has spent C$15 million ($11.2m) on Snip, according to Skeena.

Chief executive officer Ignacio Bustamante said the company had enjoyed working in Canada, but it is currently focusing its capital on later-stage projects in the portfolio, particularly the Mara Rosa project in Brazil.

“We are thrilled to have 100% of Snip back in our portfolio,” Skeena’s president and chief executive officer said in a separate statement. “In the months ahead, Skeena plans to investigate opportunities to bolster the Eskay Creek mine life by processing Snip ore at the Eskay Creek mill.”

The Snip project is a past-producing mine that Skeena acquired from Barrick Gold in 2017.

The operation churned out about one million ounces of gold between 1991 and 1999 at an average gold grade of 27.5 g/t. Since then, the project has been improved with the recent construction of nearby infrastructure and substantially higher gold prices.

The property consists of one mining lease and eight mineral claims totalling approximately 4,546 hectares in the Liard mining division.

Technology to extract REE from acid mine drainage gets $8m from US government

Staff Writer | April 6, 2023 | 

Acid mine drainage at the Richard Mine site on lower Deckers Creek.

 (Image by Brian Persinger, courtesy of West Virginia University).

A technology developed by West Virginia University that aims to extract and separate rare earth elements and critical minerals from acid mine drainage and coal waste, will receive $8 million in new funding from the US Department of Energy.


The grant, part of President Joe Biden’s Investing in America agenda, will lead to the design, construction and operation of a pre-commercial demonstration facility where the solution will be put to work.

According to university authorities, the plant and technology are expected to not only address environmental issues but also create employment in regions of West Virginia impacted by the United States’ transition away from fossil fuels.

“Using AMD as a feedstock has several community and environmental advantages,” lead researcher Paul Ziemkiewicz said in a media statement. “These are already permitted sites, which facilitates the move to production, and exploration is easy: just sample the site’s AMD discharges. Also, we’re not opening a new mine or disturbing a lot of ground, and we don’t produce radioactive byproducts like most conventional rare earth mines.”

Ziemkiewicz explained that acid mine drainage provides rare earths in a form that is easily recovered, which means no rock grinding nor intensive processing is needed.

“As a result, our carbon footprint is much less than that of a conventional mining and milling operation,” he said. “Our main byproduct is clean water since our process separately recovers the rare earths and all the other metals from AMD.”

Ziemkiewicz and his team have selected several candidate sites in West Virginia for this facility and have initiated engagement with a broad range of stakeholders including state and local legislative bodies, environmental and community-based economic development groups, AMD-treatment operators, trade unions and technology providers.

They project that the facility will produce between 5.4% and 7.3% of the global requirements for terbium and dysprosium, two of the most sought-after and critical REEs. He and his colleagues have studied and refined the process since 2016 in collaboration with the Department of Energy.

“These previous efforts culminated in a technology package suitable for demonstration-scale deployment as well as an innovation ecosystem and research infrastructure, which will be leveraged for this project,” the scientist said.

Ziemkiewicz also noted that over 60% of the rare earths in AMD are neodymium, praseodymium and the heavy REEs that are most utilized in green energy and defence technologies. That number far surpasses the 12% HREE produced at typical REE mines.

Operational pilot plant

The West Virginia University’s work is already making an impact as Ziemkiewicz’s group has joined forces with the state Department of Environmental Protection to construct an AMD/REE pilot plant near Mount Storm. That facility can treat up to 500 gallons per minute of acid mine drainage from an adjacent coal property while producing nearly two tons per year of REEs and critical minerals in the form of mixed oxides.

The Mount Storm site is online producing compliant discharge water and, as of September 2022, the system began production of hydraulic pre-concentrate.

“Unlike most academic research, our team has focused on developing large-scale, continuous operations that with this new funding can move the technology rapidly toward the market,” Ziemkiewicz said. “This has meant developing private and public sector partnerships with Rockwell Automation, L3Eng, SNF Chemicals, Solmax, Endress and Hauser as well as the West Virginia DEP. Without their technologies and real-world expertise, we’d still be working at the laboratory scale.”

MONOPOLY CAPITALI$M 

CHART: Glencore’s big bid for Teck extends Canada’s mining deal heritage

Bloomberg News | April 5, 2023 | 

Glencore Plc’s $23 billion proposal for Teck Resources Ltd. would mark one of the world’s biggest mining takeovers, if it happens.


The deal would be the second-largest mining acquisition in Canada, where some of the industry’s biggest transactions have emerged in the past two decades.

Many top-tier Canadian metals producers have disappeared over the years thanks to domestic and foreign takeovers, leaving the country with few remaining mining champions on the global stage.

Rio Tinto Group’s 2007 purchase of aluminum maker Alcan Inc. is the largest takeover of a metals producer in Canada.

(By Doug Alexander)

Ancient enzyme may play key role in producing hydrogen for green economy

Staff Writer | April 5, 2023 |

Hydrogen station in the HafenCity in Hamburg.

 (Reference image by C.Suthorn, Wikimedia Commons.)

A team of chemists at the University of Illinois Urbana-Champaign have been investigating an ancient biological enzyme known as nickel-iron hydrogenase and have come to the conclusion that it may play a key role in producing hydrogen for a renewables-based energy economy.


To prove their point, the researchers designed a synthetic molecule that mimics the hydrogen gas-producing chemical reaction performed by the enzyme.

In a paper published in the journal Nature Communications, the scientists explain that currently, industrial hydrogen is usually produced by separating hydrogen gas molecules from oxygen atoms in water using a process called electrolysis. To boost this chemical reaction in industrial settings, platinum metal is used as a catalyst in the cathodes that direct the reaction. However, many studies have shown that the cost and rarity of platinum make it unattractive as the world pushes toward more environmentally sound energy sources.

On the other hand, nature’s nickel-iron hydrogenase enzyme produces hydrogen employing the earth-abundant metals stored in its core.

“The nickel at the core of the natural enzyme produces hydrogen by reducing protons in water,” study lead author Liviu Mirica said in a media statement. “During the catalytic process, the nickel center goes through paramagnetic intermediates, meaning that the intermediates have an unpaired electron – which makes them extremely short-lived.”

According to Mirica, chemists have made nickel compounds that produce hydrogen for over a decade. While some of these compounds are very efficient at producing hydrogen, the vast majority of them operate via intermediates that are not paramagnetic.

“Researchers are trying to mimic exactly what nature does because it is efficient, and maximizing efficiency is a key challenge to overcome when engineering energy sources,” he said. “Being able to reproduce the paramagnetic intermediate steps that occur in the natural enzyme is what our group is trying to achieve – to increase efficiency and mimic nature.”

To achieve this, the team designed an organic molecule called a ligand that contains electron-donating atoms like nitrogen and sulphur and can hold the nickel in place and support the two relevant paramagnetic states that produce hydrogen.

The key design element that sets this molecule apart from other catalysts is the presence of a carbon-hydrogen bond near the nickel center that is broken and re-formed during catalysis. This was crucial in stabilizing the aforementioned paramagnetic states.

“One of the key takeaways from our work is that by using the specially designed ligand in the manner we did, we have successfully united ideas from two fields of inorganic chemistry – bioinorganic and organometallic chemistry – to make nickel complexes that behave similarly to the active site of one of nature’s most beautiful and complicated enzymes,” co-author Sagnik Chakrabarti said.

In the recent past, several unusual enzymes have been found that feature metal-carbon bonds in their active sites, the researchers said. Such design principles in synthetic complexes could lead to further insights into how nature performs chemistry with small molecules like hydrogen.

Gov. Murphy signs EO making N.J. 'a safe haven for gender-affirming care'


New Jersey Gov. Phil Murphy on Tuesday with LGBTQ advocates looking on signed an executive order to protect gender-affirming care in the state Photo courtesy of New Jersey Gov. Phil Murphy/Twitter



April 4 (UPI) -- New Jersey Gov. Phil Murphy has signed an executive order to protect both medical professionals and patients from potential consequences over administering or receiving gender-affirming care, as Republicans seek to restrict and criminalize the medical therapy nationwide.

The Democratic governor signed the executive order Tuesday before members of Garden State Equality and Bridges4Life. His office in a statement described the order as one that will make New Jersey "a safe haven for gender-affirming care."

"Across the nation, we are witnessing attacks led by certain states that seek to undermine the equality, dignity and safety of the LGBTQIA+ community, especially transgender and non-binary youth," Murphy said. "As leaders, our greatest responsibility is ensuring that every person we represent regardless of their gender identity or gender expression, is entitled to respect, fairness and freedom."

Though gender-affirming care has received the support of every major U.S. medical association, Republicans have sought to restrict and criminalize the medical practice with emphasis on care for minors. The American Liberties Union said it is tracking 451 bills it describes as anti-LGBTQ legislation that have been introduced across the nation, 24 of which that have been passed into law. The civil rights group states that the bills especially target transgender youth.

In New Jersey, the ACLU said it is tracking six such bills, including S3076 that aims to prevent those under the age of 18 from receiving gender-affirming care.

Amid the increase in number of such legislation, the American Medical Association, the country's largest medical group, has called it "inappropriate and harmful" for state legislatures to "dictate that certain transition-related services are never appropriate and limit the range of options physicians and families may consider."

Murphy's executive order directs all state departments and agencies to protect all people from potential repercussions from providing, receiving, assisting in providing or receiving, seeking or traveling to New Jersey to obtain gender-affirming healthcare.

Kentucky GOP overturns veto, passes restrictive anti-transgender bill into law

It specifically ensures equal access to quality healthcare services, regardless of one's sexual orientation or gender identity or expression. It also bars the extradition of a person within New Jersey to another state in connection to gender-affirming care while also prohibiting the state from cooperating with interstate investigations aimed at holding someone liable for civil or criminal penalties associate with such care.

"I cannot possibly overstate the importance of this action," Jamie Bruesehoff, the mother of youth activist Rebekah Bruesehoff, said in a statement. "Families like mine across the country are being made into political refugees because of their state governments. They are hurting and scared. Kids like Rebekah should get to be kids instead of fighting political bullies."

Most men delay treatment for prostate cancer
By Alan Mozes, HealthDay News

Investigators found that since 2010 the number of low-risk prostate cancer patients who have chosen active surveillance over immediate treatment has shot up from 16% to roughly 60%.

File photo by www.BillionPhotos.com/Shutterstock


Over the last decade, more and more Americans with early-stage prostate cancer have put off radiation and surgery, the standard treatment options, new research indicates.

Instead, many U.S. men with low- or intermediate-risk prostate cancer have embraced "active surveillance," in which their disease is carefully monitored for any sign of progression that might eventually require intervention.

In the new study, the investigators found that since 2010 the number of low-risk prostate cancer patients who have chosen active surveillance over immediate treatment has shot up from 16% to roughly 60%.

In the same timeframe, surveillance has also risen among intermediate-risk patients, jumping from about 8% to 22%.

Survival from prostate cancer high whether men receive treatment or observation

The trend appears to reflect the fact that "professional societies have advocated for active surveillance of low-risk cancers for over a decade now," said study lead author Dr. Bashir Al Hussein Al Awamlh, a urologic oncology fellow at Vanderbilt University Medical Center in Nashville, Tenn.

"The theory behind active surveillance is that some cancers have a low potential to spread outside of the prostate and are non-lethal," Al Hussein Al Awamlh noted. In such cases, immediate treatment is not necessary.

Studies indicate that over 10 years, about half of all low- and intermediate-risk patients who choose surveillance over treatment will eventually need to undergo treatment, he said.

Embolization could provide relief from enlarged prostate without drugs


But "active surveillance allows us to watch these cancers closely, using blood tests, imaging modalities and biopsies to ensure they do not progress," Al Hussein Al Awamlh added.

The main goal: to "avoid subjecting patients to the side effects of upfront radiation or surgery that affect urinary and sexual function," he explained.

And that's not a minor concern, said Dr. Yaw Nyame, an assistant professor in the department of urology at the University of Washington School of Medicine, in Seattle.

Plant-based diet may improve prostate cancer outcomes

Nyame, who was not involved in the investigation, said he "always likes to remind folks that all of our treatments that are confined to the prostate have the potential to impact a patient's quality of life, by impacting urinary function, bowel function and sexual function."

And some of those side effects can be "life-altering," he noted, given that prostate surgery entails a 15% risk for incontinence and a 50% risk for erectile dysfunction in the five years post-treatment.

Radiation also entails a similar sexual function risk, Nyame added, alongside a "pretty high rate" for so-called urination frequency, diarrhea and bowel disturbances over the six to 12 months following treatment.

"So, for me, the risk of dying from prostate cancer needs to be big enough without treatment that it makes all of these treatment side effects worthwhile," Nyame said.

That's where active surveillances comes in, said Al Hussein Al Awamlh. By definition, when a cancer is deemed to be low-risk it means that the chances that the cancer will ultimately spread remains low. And "we believe we can catch these cancers before they progress," he said.

So how do doctors know when a patient has low- or intermediate-risk prostate cancer, versus aggressive late-stage cases requiring immediate intervention?

Al Hussein Al Awamlh said a determination is made on the basis of factors such as tumor size; biopsy results; blood tests designed to measure levels of prostate-specific antigen (PSA); and whether or not the cancer in question "has broken through the outside layer of the prostate."

Nyame said, since the early 2000s, several studies have shown that for those diagnosed with low- or medium-risk disease, "the active surveillance strategy is safe." Among those who choose surveillance, only about 3% end up with advanced stage 4 cancer over 10 years, he noted, and less than 1% die from their illness.

For that reason, both Al Hussein Al Awamlh and Nyame pointed out that public health guidelines -- like those outlined by the National Comprehensive Cancer Network -- strongly advise doctors to advocate for active surveillance over immediate treatment when appropriate.

The current study suggests the message has been catching on.

The investigators analyzed information from a U.S. database including men over 40 who had been diagnosed with low or "favorable" intermediate-risk prostate cancer between 2010 and 2018. During that time, active surveillance numbers jumped to 60% and 22%, respectively, according to the report.

The good news came with some caveats, however. The study authors noted that American patients are still much less likely to choose surveillance than their European peers.

In addition, active surveillance was less often presented as an option and/or chosen by Hispanic men, rural residents and men of lower means, the study revealed. That, said Nyame, suggests "we're not equitable in how we approach this."

The findings were published online Monday in JAMA Internal Medicine.

More information

There's more on active surveillance of prostate cancer at the American Cancer Society.

Copyright © 2023 HealthDay. All rights reserved.

ZIONISTS ASSAULT MUSLIMS & CHRISTIANS

Israeli police storm Al-Aqsa mosque, arresting hundreds

April 5 (UPI) -- Israeli police stormed the Al-Aqsa mosque on Tuesday night, arresting hundreds of people they said had barricaded themselves in the building, prompting retaliatory rockets to be launched from the Gaza Strip at Israel and for Israel to respond with airstrikes.

The escalating series of violence comes as Muslims celebrate Ramadan and Jews prepare for their Passover holiday and which began with police storming Al-Aqsa mosque in East Jerusalem, arresting more than 350 people.

Israel Police said the suspects, "including masked individuals, stone and firework hurlers/throwers and individuals suspected of desecrating the mosque" were accused of having "violently barricaded themselves" in the mosque.

Authorities stormed the building after failed attempts via dialogue to convince them to leave, Israel Police said in a statement, adding officers were pelted with stones and firecrackers they said were smuggled into the mosque overnight by those who then barricaded themselves inside with the use of iron rods, closets and other objects.

One Israeli soldier was injured in the operation, while the Palestinian Ministry of Foreign Affairs said "hundreds" of worshippers were injured in what it condemned as a "brutal" attack against Palestinian worshippers.

"Israeli occupying forces illegally invaded Al-Aqsa, barbarically assaulted men, women and children, unlawfully detained more than 500 worshippers, prevented ambulances from attending to hundreds of injured worshippers and caused irreparable damage to the Al-Aqsa Mosque," it said in a statement Wednesday morning.

"Worshippers have the absolute right to freely and safely pray in and around the holy compound, whenever and at any time, without any obstruction or violence."

Following the siege on Tuesday night, sirens blared throughout southern Israel as the IDF said at least nine rockers were fired toward the country from Gaza, with four being intercepted by military and four others landing in open areas.

In retaliation, Israel, which holds Hamas responsible for all violence from Gaza, said warplanes struck three weapons manufacturing sites, a military training compound and military posts of the militant terrorist organization in the Palestinian enclave.

"This is in response to the firing of rocket-propelled grenades by vandals in the Gaza Strip towards Israel last night," the IDF said in a statement. "This raid is a blow to the armament and force-building capabilities of the Hamas terrorist organization.

British education system facing new wave of strikes as unions reject pay offer


British teachers who walked out on strike three weeks ago in a dispute over pay are gearing up for a fresh wave of strikes beginning later this month. File Photo by Tolga Akmen/EPA-EFE

April 5 (UPI) -- Britain's schools are facing a wave of strikes after a third teachers' union said Wednesday that its members had rejected the government's latest pay offer.

The National Association of Head Teachers said its 37,000 members had voted overwhelmingly to reject the government's "inadequate and unaffordable" pay offer and was considering balloting the membership over strike action.

More than 90% of the union members said the offer was unaffordable, saying they did not have the headroom in their budget to be able to afford the pay offer for the upcoming academic year which begins in September.

Four out of five members also indicated a willingness to strike.

British economy defies expectations to post 0.1% growth in fourth quarter

"Our members do not recognize the government's calculations on the affordability of the offer, with the vast majority of head teachers and school business leaders saying they could not pay the rise from their existing budgets," said NAHT general secretary Paul Whiteman. "This is a very clear stumbling block and one the government must listen to and solve if we hope to bring this dispute to an end."

NAHT's National Executive will now meet to discuss the next steps, including a formal ballot on industrial action.

The government's offer is for a 4.3% raise -- more for new teachers whose starting salary would rise to $37,500 -- plus a $1,250 one-off payment this year. Teachers are also concerned that the offer is not funded and that schools will have to pay for the raise out of their existing budgets.

RELATED British Amazon workers announce two rounds of strikes over pay

On Tuesday, the 450,000-strong National Education Union backed more strikes on top of two days of strikes set for April 27 and May 2, with further walkouts possible in the fall.

Delegates at the union's annual conference in Yorkshire voted for a three-day strike in late June or early July.

"If the Government does not resolve the current pay dispute the NEU will re-ballot members for a renewed mandate for further industrial action in the next academic year," the union said in a news release.

That could see the strikes continue over into the new academic year if members give their backing.

"To parents, we say that we have no wish to disrupt education, indeed our action is aimed at getting the government to invest in the education of this generation of children and the people who teach them," the NEU said.

"We are asking our school reps to plan with headteachers to ensure that year 11 and year 13 students have a full program of education on the upcoming strike days."

Three other unions, the NASUWT, Association of School and College Leaders and the University and College Union are all also balloting their members over industrial action.

Members of the University and College Union voted Monday to renew their union's ballot for industrial action over pay, pensions and working conditions, bringing campus strikes affecting 150 British universities in coming months a step closer.

The government, which says schools could afford to fund most of the pay raise from their budgets, called the further strike action "extremely disappointing" and has threatened to withdraw its pay offer if strikes go ahead.

Unions are arguing that the pay rise be fully funded because taking the money from schools' budgets would likely entail cutbacks to other areas.

Police arrest husband of former Scottish National Party leader


Former Scottish National Party leader Nicola Sturgeon's husband, Peter Murrell, was arrested Wednesday in connection with an investigation into the party's finances. 

File Photo by Robert Perry/EPA


April 5 (UPI) -- Peter Murrell, the husband of former Scottish National Party leader Nicola Sturgeon, was reportedly arrested on Wednesday in connection with an investigation into the party's fundraising and finances.

While not using Murrell's name in the announcement, Police Scotland said in a statement that a "58-year-old man" was "arrested as a suspect in connection with the ongoing investigation into the funding and finances of the Scottish National Party."

The police said he was being questioned by detectives while conducting "a number of locations."

Murrell and Sturgeon's home was sealed off with police tape and police were also seen searching the SNP offices.

"A report will be sent to the Crown Office and Procurator Fiscal Service," Police Scotland said. "The matter is active for the purposes of the Contempt of Court Act 1981 and the public are therefore advised to exercise caution if discussing it on social media."

Murrell controlled the internal operation of the party for nearly 24 years until leaving his position in the latest leadership shakeup that saw Sturgeon retire in March, giving way to Humza Yousaf being elected as party leader and first minister of Scotland.

Police Scotland started its probe after questions were raised over the handling of nearly $750,000 in donations made to the SNP to hold a second referendum for independence.

"Clearly it would not be appropriate to comment on any live police investigation, but the SNP has been cooperating fully with this investigation and will continue to do so," a party spokesperson said.

"At its meeting on Saturday, the governing body of the SNP, the NEC, agreed to a review of governance and transparency -- that will be taken forward in the coming weeks."

The resignation of Sturgeon, a longtime Brexit foe who embraced Scottish independence, was seen by many in Britain as a surprise last month. She led the Scottish National Party for eight years.

Yousaf took over last week, becoming the first Muslim to lead the SNP and serve as Scotland's first minister.

"The news this morning, it's challenging and it's difficult," Yousaf told reporters Wednesday. "The SNP has fully cooperated with the investigation and it will continue to do so."

CRIMINAL CAPITALI$M

Swiss regulators say UBS takeover of Credit Suisse was 'best option available'

Swiss regulators explained Wednesday that last month's controversial decision to sell off the country's troubled Credit Suisse bank cheaply was the best available solution to limit the risk of contagion to the global financial system.

April 5 (UPI) -- Switzerland's financial regulator sought Wednesday to justify the controversial decision made by the government and central bank to sell Credit Suisse to rival UBS for $3.2 billion, imposing massive losses on investors.

The Financial Markets Authority, or FINMA, said that following a six-month run on the bank it had four pre-prepared options on the day -- two of them ready to be signed -- resolution, nationalization, bankruptcy or a takeover.



Resolution and temporary nationalization were ruled out due to requiring more state funds and 100% investor bail-ins while the contagion risk to the global financial system of bankruptcy was considered so high that a takeover was deemed the least harmful solution, FINMA said.

"After carefully weighing up the advantages and disadvantages and the potential upsides and downsides, everyone involved came to the same conclusion," CEO Urban Angehrn said. "In this specific situation, a takeover of Credit Suisse by UBS was the best option available."






Anghern said the merger was the option that would most likely "stabilize the situation" and prevent the crisis from spreading further.

"As a global systemically important institution, Credit Suisse is not just any bank. The nature of the bank's business means it is highly interconnected with other market participants, both in Switzerland and globally," he said.

Angehrn said the current fragile state of the financial markets due to the shift to monetary tightening in 2022, the uncertain economic outlook, the Silicon Valley Bank and Signatures Bank crises in the United States and the whole geopolitical backdrop were also relevant to the decision.

Swiss prosecutor to investigate UBS takeover of Credit Suisse

"There was a high probability that the resolution of a global systemically important bank would have led to contagion effects and jeopardized financial stability in Switzerland and globally," he said.

The March 19 rescue deal saw Credit Suisse, which at the end of 2022 has assets of $1.4 trillion, sold for just $3.2 billion with shareholders receiving one UBS share for every 22.48 Credit Suisse shares they held.

Already wounded from a series of scandals and incidents, withdrawals on a "globally and historically unprecedented scale" totaling $153 billion in the fourth quarter caused the market's assessment of Credit Suisse's business model and the future to falter.

FINMA said that was the trigger for it to enter into an even closer, daily exchange with the bank from this point on, and in particular closely monitor Credit Suisse's liquidity situation.

A Federal Department of Finance-led steering committee was set up and met repeatedly with FINMA's committee on financial crises along with the Swiss National Bank.

Credit Suisse was ordered to prove it had contingency measures in place including risk reduction and strengthening capital and liquidity and to do everything possible to prepare for a potential sale, including finding a buyer.

But that effort was overtaken by last month's mini-banking crisis in the United States which threatened to topple Credit Suisse, forcing FINMA and SNB to cobble together the merger with rival UBS behind closed doors on a Sunday afternoon.

The deal has been mired in controversy ever since with FINMA forced to defend a decision ordering Credit Suisse to write down $17 billion worth of junior bonds to zero, UBS' CEO replaced and the country's top prosecutor launching a criminal probe into the takeover