Russian Technologies ink JV agreement with Tehran state Bank

20 September 2011:Russian Technologies inks JV agreement with Tehran state Bank to build a mining complex and develop the Mehdiabad mine.

The Mehdiabad deposit in central Iran is believed to contain 15.7 million tonne of zinc and 5.0 million tonne of lead, according to an Australian company Union Resources that was given a license to exploit the mine in 2006.

Russian Technologies will participate in the project together with a Turkey-Seychelles company Kapsad International, while Iran will be represented in the venture by Bank Saderat (BSI), a major institution blacklisted by the US Treasury and the UN Security Council.

Source:Zawya