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SYDNEY, Jan 2 AAP

January 02 2013, 12:08AM

Stocks to watch on the Australian stock exchange at noon on Wednesday:

GBG - GINDALBIE METALS LTD - up 2.75 cents, or 11 per cent, at 37.75 cents

Gindalbie Metals shares said has made the first shipment of magnetite from the Karara iron ore project in Western Australia.

RIO - RIO TINTO - up $1.16, or 1.8 per cent, at $67.17

BHP - BHP BILLITON - up 38 cents, or one per cent, at $37.48

FMG - FORTESCUE METALS GROUP - up 10 cents, or two per cent, at $4.75

Shares in the major miners rose on Wednesday after an almost four per cent surge in the iron ore price.

SDL - SUNDANCE RESOURCES - up one cent, or 2.7 per cent, at 38 cents

Sundance Resources shares continued their rally that started on Monday after Chinese company Hanlong said it was in the final stages of taking over the Australian miner.