Interfax quoted a source close to the miner said Polymetal is considering taking on a partner to develop the Galkinsky gold and polymetal property in the Sverdlovsk region.

The source said specifically, Polymetal is considering developing the property jointly with China's Zijin Mining Group. In that case, Zijin could mine zinc at the deposit, while Polymetal could mine gold and silver.

The license to explore and assess gold reserves at the Galkinsky property belongs to Polymetal subsidiary North Urals Gold until 2010.