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No it sinks - black coal has an SG/density of around 1.3.
Depends if the S/G density of the salt water is greater than 1.3 I spose. AND if the coal has a lot of pyrites (fools gold) in it ? But we are bordering on the ridiculous now as we all know that Rudd has flown over the disaster zone and declared it a "very, very serious situation" that he will be able to turn water into wine and ........ No wait ... that was the other guy !