Russia, Iran set to develop world's largest zinc deposit

Russia and Iran have agreed to jointly develop the world's largest zink-lead deposit in central Iran, RIA Novosti reported on Tuesday with reference to Russian business daily Kommersant.

"The sides agreed to implement a project on the construction of an ore mining and processing enterprise at the Mehdiabad zinc-lead deposit," the paper cited a protocol signed at a meeting of the Russia-Iranian commission on trade and economic cooperation on September 11.

Russia's Rostekhnologii corporation and Iranian Bank Saderat Iran will run the Mehdiabad project with estimated investment of $1.2 billion.

The deposit's total reserves are estimated at 394 metric tons of ore with an average grade of 4.2 percent zinc and 1.6 percent lead.

The implementation of the project could be hampered by the fact that the Iranian bank is subject to UN international sanctions against Tehran, the Kommersant said.


/Trend/