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Iran Agreement Unveiled

By The Moscow Times

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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