It's a cheap, non intermittent, easily scalable, and highly available source of energy compatible with existing infrastructure. When the choice becomes rolling electricity blackouts/shutting down factories, or coal powered electricity due to extremely poor planning for the future, coal will win every time. I wish we just started getting renewables running decades ago. Most of the limited electricity in South Africa is produced from coal power plants or diesel generators.
I'm typing this during a rolling electricity blackout. Really not looking forward to my cold shower in the next few minutes