* To offer 20-25 percent of shares in Q3 2011-Kommersant * Company valued at $3.6 bln to $4.8 bln MOSCOW, May 20 (Reuters) - Russian Copper Co (RCC) plans to offer 20-25 percent of shares in a London float this year, anticipating a recovery in copper prices, business newspaper Kommersant said on Friday. Russia's third-biggest copper producer could raise between $900 million and $1.2 billion through the IPO scheduled for the third quarter of the year, Kommersant said, citing sources close to the situation and RCC's shareholders. The offering will comprise both new and existing shares in the company which has been valued at $3.6-$4.8 billion. RCC declined to comment. Copper prices CMCU3, often seen as a gauge of economic activity, have corrected on the back of weak U.S. data, and its recovery is in doubt due to a debt crisis in the euro zone and persistent concerns about global economic growth. But some analysts predict a copper deficit of 400,000 tonnes this year, Kommersant said, meaning prices may rise again later in the year. RCC is 80 percent owned by Igor Altushkin. Ruslan Baisarov became its second-biggest shareholder in February when he bought a 20 percent stake for $500 million. Russian IPO candidates have had mixed results in 2011 to date, with $2 billion raised from four successful London floats while five planned floats have been called off. [ID:nLDE73S0J7] (Reporting by Maria Kiselyova in Moscow and Natalya Shurmina in Yekaterinburg; Editing by Greg Mahlich)

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