* Ivanplats considering 2011 IPO -source
* IPO seen at $750 million to $1 billion -source
NEW YORK, Feb 23 (Reuters) - Mining company Ivanhoe Nickel & Platinum Ltd is looking to go public this year in an offering that could raise between $750 million and $1 billion, a source familiar with the situation said on Wednesday.
The private Canadian company -- which is controlled by Ivanhoe Mines (IVN.TO) Chief Executive Robert Friedland -- has been interviewing banks for the IPO, the source said.
The information is not public and the source declined to be named.
The offering could value Ivanhoe Nickel and Platinum, also called Ivanplats, at more than $5 billion, according to the Wall Street Journal, which first reported the news.
Ivanplats is looking to list on the London Stock Exchange, the source said. It is also considering the Toronto Stock Exchange and could still delay the process, according to the Journal report. The banks pitching to underwrite the IPO include Citigroup Inc (C.N), Morgan Stanley (MS.N), BMO Capital Markets Ltd (BMO.TO) and UBS AG UBSN.VX, according to the report.
The banks, Ivanhoe and Ivanplats were not immediately available for comment.
Ivanplats' holdings include copper discoveries in the Democratic Republic of Congo and South Africa. (Reporting by Clare Baldwin and Michael Erman; Editing by Gary Hill)