ABC.net reported that Australian iron ore prospecting company, United Minerals, has sought a suspension in trade of its shares, pending an announcement on a potential change of control in the company.

United Minerals has issued a statement to the Australian Securities Exchange, but has not given any further details.

The company is exploring for iron ore in the central Pilbara region of Western Australia, and for bauxite in the Kimberly.

There is media speculation that BHP Billiton, Rio Tinto and Fortescue Metals may be potential buyers.

(Sourced from abc.net.au)