Russian billionaire Roman Abramovich’s Millhouse group is in talks with BHP Billiton Ltd. (BHP) on a partnership to mine for gold and copper in Russia’s Far East, Kommersant reported, citing an unidentified person familiar with the matter.

The two companies may agree on a venture by the end of the year to develop the Baimsk block in Russia’s Chukotka region, the newspaper said, adding that Melbourne-based BHP Billiton may take 75 percent and Millhouse the rest.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net