Australia listed Sundance Resources has been placed in a trading halt pending an announcement over media speculation a takeover offer by China's Hanlong Mining is being held up by a government investigation into insider trading.

Hanlong wants Sundance for its Mbalam iron ore project, straddling the Republics of Congo and Cameroon, as the mine aims to initially ship 35 million tonnes a year, making it one of the largest iron ore mines in Africa.

(Sourced from Reuters)