Mumbai: London-based Rio Tinto Ltd is eying a possible acquisition of Canadian aluminum producer Alcan Inc and has hired Deutsche Bank to advise it on a possible bid, the Sydney Morning Herald reported.

Rio Tinto is the latest mining house to join the race after Alcan rejected a $28.4 billion bid by Alcoa.

Other potential bidder include BHP Billiton Ltd., United Company Rusal, Anglo American and Xstrata Plc.

Rio Tinto is likely to be pitted against larger rival and the world''s biggest miner, BHP Billiton Ltd, which also is reported to be interested in Alcan.

An Alcan-Rio link up would create the world''s largest aluminum company.

Analysts say that Rio may not opt to retain Alcan''s downstream aluminum rolling and packaging arms, which it could sell for more than $8 billion and avoid the possibly of having to shelve over $30 billion for Alcan.

Alcan and Rio are equal 40-40 partners in the world''s biggest alumina refinery - Queensland Alumina, in Australia - with Russia''s United Company Rusal holding the remaining 20 per cent.

There is yet no confirmation as to whether BHP Billiton or Rio Tinto is interested in Alcan. Names of CVRD, Anglo and Swiss-based Xstrata plc. and UK-based Anglo American plc are in circulation as some of the other bidders for the aluminum producer.

Australian aluminum producer Alumina Ltd is also rumoured to be watching the proceedings eagerly, with the possibility of a bid.

Alumina owns 40 per cent of Alcoa World Alumina and Chemicals (AWAC), the world''s largest alumina business, with partner Alcoa owning the other 60 per cent.

Alcan, better known for mining and producing millions of tonnes annually of bauxite, alumina and aluminum, also is a substantial provider of engineered and packaging materials.

Alcan makes packaging for everything from cigarettes to shampoo from 180 manufacturing facilities in 26 countries. It also rolls, extrudes and flattens much of the aluminum it smelts for use by engine makers, oil drillers and airplane manufacturers.