Iran can keep its stake in a uranium mine in Namibia owned by Anglo-Australian mining
giant Rio Tinto, despite new UN sanctions restricting such investments, the firm said.

UN Security Council resolution 1929, adopted in June, bans the sale of any stakes in uranium mines to Iran, as well as shares in any commercial operations linked to the production of nuclear materials or technology.

It also says that 'all states shall prohibit such investment.'

Since 1975 - before its 1979 Islamic revolution - Iran has owned a 15 per cent stake in the Rossing Uranium Mine in Namibia in southern Africa, one of the world's biggest open-pituranium mines.

Rossing Uranium Limited, majority-owed by RioTinto, sells its uranium to nuclear power plants in North America, Europe and Asia, including Japan.

'Rio Tinto has discussed the new United Nations Resolution 1929 with the governments of Namibia, the US, United Kingdom and Australia,' Rio Tinto said in a statement. 'We  believe we are complying with the resolution.'

'The government of Iran does not gain access to any nuclear technology through its investment, it has no uranium product off-take rights and all dividend payments have been frozen,' said the statement, sent to Reuters by Rossing.

Council diplomats told Reuters that the latest steps clearly ban the sale of new stakes to Iran but are unclear on whether any previously held Iranian stakes in uranium mines or
other nuclear-related operations should be divested.

One Security Council diplomat told Reuters on condition of anonymity that resolution 1929 appeared to apply only to new stakes, though others said that all mining firms might come under pressure from Western powers to disassociate themselves from Tehran, which is suspected of developing atomic weapons.-Reuters