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Iran Agreement Unveiled

The Energy Ministry on Tuesday confirmed reports that Moscow has agreed to develop an Iranian zinc deposit considered one of the largest in the world, in a deal involving an Iranian bank facing international sanctions.

The deal was signed on Sept. 11 at a trade meeting that brought Energy Minister Sergei Shmatko to Iran.

"The parties agreed to develop cooperation on a project involving the construction of a mining plant and exploitation of the Mehdiabad zinc and lead deposit," the ministry said in e-mailed comments. It added that Russian Technologies, Russian firm Kapsad International and Iran's Saderat Bank would participate in the deal.

(Reuters)

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