Adani Enterprises flat as Queensland govt gives backing to $7.45 bn coal mine project

NEW DELHI: Shares of Adani Enterprises ended with mild losses of 0.3 per cent after rallying 3 per cent in intraday trade on Wednesday after Queensland provided backing to the company to develop its planned coal mine in the state.

Adani Enterprises is developing one of the world’s biggest coal mines in the state’s undeveloped Galilee basin worth $7.45 billion.

Reacting to the development, the scrip gained 2.83 per cent to hit a high of Rs 68.25 on the BSE.

Adani Enterprises should be granted "all state government approvals" to build one of the world's biggest coal mines, state mining minister Anthony Lynham said.