Coal mogul’s novel plan to save coal is to buy it: Gadfly

The Gregory Crinum coal complex is one of the several assets the world’s No.1 miner has been seeking to offload amid a slump in commodity prices.

Result of depressed prices and over-supply.

Country has not saved enough from the largest income boost it has ever seen.

Some coal producers in the red.

Vancouver explorer, already down 80% this year fell again on Monday after note holders demanded payment after alleged defaults.

Trying to meet increases in domestic coal demand.

Germany pushed for a deal.

"The abrupt move marks a sharp reversal for the bank that had pushed aggressively into the sector since 2008."

Maintains most production and sales forecasts