Shares of Adani Enterprises dipped 2 percent intraday on April 9 despite inching closer to opening a thermal coal mine in the Australian state of Queensland after Australia’s environment minister approved a groundwater management plan.

“This decision does not comprise the final approval for this project,” Minister for the Environment Melissa Price said in a statement.

The miner still requires 9 more environmental plan approvals for the coal mine to go ahead, Price added.

At 1232 hrs, Adani Enterprises was quoting Rs 139.10, down 2.01 percent on the BSE.