MUMBAI (Dow Jones)--Adani Enterprises Ltd. (512599.BY) will...

MUMBAI (Dow Jones)--Adani Enterprises Ltd. (512599.BY) will announce the acquisition of a coal mine in Australia later Tuesday, its spokesman said.

"We will be making an announcement this afternoon related to a development in our coal business and future plans," the spokesman told Dow Jones Newswires, asking not to be named.

He said additional details will be provided by Adani's chief financial officer, Devang Desai, at a news conference scheduled around 0630 GMT in the western city of Ahmedabad where the company is based.

Earlier Tuesday, Australia's Linc Energy Ltd. (LNC.AU) halted trading in its shares pending an announcement on the sale of one of its coal properties in Queensland state.

Linc had previously indicated that it had entered into talks with Adani Enterprises about selling its Galilee coal asset, valued by Linc at more than A$1 billion.

Linc Energy Monday said negotiations to sell a key coal asset in Queensland state to Adani were at an advanced stage but no agreement had been finalized and it was in talks with other parties as well.



-By Eric Yep, Dow Jones Newswires; +91-11-4356-3305; [email protected]