Mechel Mining is planning to launch an initial public offering in London in 2011, The Wall Street Journal reports. The mining division of Mechel may raise between $3 billion and $4 billion.

The Russian company intends to use the funds for the development of its Elga coal deposit, or to make minor acquisitions. Morgan Stanley and JP Morgan Chase will serve as the lead managers for the offering.

Click here for the story from The Wall Street Journal.