The project "must meet further stringent conditions of approval from the Commonwealth before it can begin producing coal", Price said.
Environment Minister Melissa Price today announced her department had approved final groundwater management plans after taking advice from the CSIRO and Geoscience Australia on the open-cut coal mine's potential impact on its surrounds.
Further approvals are needed from the Queensland government prior to construction starting.
Federal Political Editor Michael Pachi says the Environment Minister was pressured into making the decision.
"Adani Mining has been through these planning and approvals processes for more than eight years now", Mr Dow told The Courier-Mail on Wednesday.
The project still requires nine more approvals to be granted from the Queensland and Commonwealth governments before mining can commence.
Labor would "adhere to the law" and be "guided by the science", he said.
Referring to the pressure within the Coalition, Shorten said: "Trying to pressure people now creates a cloud over a process that didn't need to be there but for the government's division in their own ranks".
Adani is putting pressure on the Queensland government to sign off on environmental approvals it needs to start digging a coal mine, telling locals it stands in the way of thousands of new jobs.
The federal government is not providing any financial support to the mine or to its rail project, she said. "The Coalition can expect to lose a swathe of seats around Australia for their capitulation to a single coal company at the expense of the community".
In a statement Adani complained about its treatment from the Queensland government.
MPs from Queensland in the Scott Morrison-led government had been pressurising Price to approve the plan before elections are held in May.
The approval follows more than 18 months of consultation with the Department, and independent evaluation and endorsement of the plan by CSIRO and Geoscience Australia, said Lucas Dow, chief executive officer of Adani Mining.
"This isn't just about one project or one mine - the Labor party wants to get rid of all coal mines and all coal mining jobs", Senator Canavan said in a statement afterwards.