The German government is set to phase out unprofitable coal mines by 2018, according to a plan agreed to by the government and unions in August.
 
The plan does not come cheaply; the federal and state governments will provide some 21.6 billion euros to help miners with the transition. The German mining industry employs some 33,000 people, and requires hefty subsidies to stay afloat.

Under the agreement, the energy conglomerate RAG will be restructured. Shares held by ThyssenKrupp, Arcelor, E.on and RWE, will be deposited into a foundation which will help fund the phase-out, and a public stock offering, to begin in 2008, will take place for the company's non-mining activities.
 
The phase-out will start in 2009, and will be reviewed in 2012.