Russia and Iran have agreed to jointly develop the world\'s largest zink-lead deposit in central Iran, Russian business daily Kommersant said on Tuesday.\"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% zinc and 1.6% 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.