Australian mining group Union Resources has gained welcome security regardingits Iranian zinc prospect. MD Rob Murdoch says the Iranian Government'sawarding of a foreign investment licence means Union is enjoying the sameprotection as any domestic business. It has entered a 50-50 joint venture withthe Government on the Mehdiabad tenement, estimated to be the largestundeveloped deposit of zinc worldwide. Union will spend some $US682 million($A903 million), at a cash cost of $US600 per tonne, with exports starting inyear five of operation and capped at 75% of output
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