LONDON, Jan 13 (Reuters) - Rio Tinto has engaged JPMorgan ( JPM ) and two other advisers on its potential acquisition of Glencore ( GLCNF ), a deal that could create the world's largest miner ‌worth over $200 billion, a source with knowledge of the situation told Reuters.

The ​other banks Rio Tinto has engaged are Evercore ( EVR ) ‍and Australian financial services group Macquarie, the ⁠person said. ⁠The roles are highly prized as bankers jostle for a share ‌of potentially more than $100 million ​in advisory fees that such a deal could generate.  

The potential transaction represents the latest ⁠attempt at consolidation in ‍the global ​mining industry, as companies race to secure reserves of metals including copper, needed for the energy ‍transition and artificial intelligence.

Glencore ( GLCNF ) has not yet formally retained an adviser, a second person with knowledge of the matter said. The people spoke on condition of anonymity because the matter is private. Citi ​retains ‍ties to the company as the U.S. bank has advised it on previous deals including its ​failed acquisition of Teck in 2023, Reuters reported previously.

The two mining giants have explored combining operations before, with Rio Tinto rejecting a Glencore ( GLCNF ) merger offer in 2014, saying it was not in shareholders' interest, while more recent ​merger talks in late 2024 also concluded without an agreement.

Bloomberg previously reported the names of banks advising on the latest attempt. 

(Reporting by ‍Andres Gonzalez; Editing by Anousha Sakoui and Emelia Sithole-Matarise)