SYDNEY (AFP) - BHP Billiton, the world's largest mining company, said it held talks with Russia's energy ministry this week amid reports it was considering a significant investment in the country's massive energy reserves.
BHP Billiton chief executive Chip Goodyear met on Monday with Russia's Industry and Energy Minister Viktor Khristenko, a company spokeswoman said.
She described the visit as a "fact-finding mission" to increase BHP Billiton's knowledge of Russia and the opportunities that might exist there.
"We see Russia as both a market for our products and potentially as a resource base," the company spokeswoman said.
It was the first official visit to Russia by a BHP chief executive.
The Moscow Times newspaper, quoting Russian officials, said Goodyear discussed the possibility of BHP's involvement in the oil and gas, metals, coal and diamond mining sectors.
BHP had experience in Russia in the past.
However, in 1999, it withdrew from plans to develop the Prirazlomnoye oil deposit in the Barents Sea after failing to reach common ground with Gazprom over the production plan.
This week's talks followed a flurry of energy deals between Russian and international oil majors despite investors' concerns over a tax dispute between the Kremlin and oil major Yukos.
Last week, US major ConocoPhillips forged a strategic alliance with Russia's Lukoil.
Others pursuing negotiations for projects in Russia include ChevronTexaco, Marathon, Exxon Mobil, Royal Dutch/Shell and Statoil.