Adani Enterprises is close to acquiring a coal mine for $1 billion in Queensland, Australia, from Linc Energy. The coal block is expected to have reserves of 7 to 8 billion metric tons (mt). According to Economic Times, Adani was expected to give the first tranche of $435 million during July. The rest of the payment will be made over the next few months. Adani Enterprises will invest in the project and aims to produce more than 50 million mt of coal in the next three to four years.
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