Jefferies takes a contrarian stance on coal, making a positive investment case for the surviving...

|By:, SA News Editor

Jefferies takes a contrarian stance on coal, making a positive investment case for the surviving producers. All four major coal companies - ANR, ACI, CNX, BTU - have decades of reserves, so there's little need to spend money on exploration, the firm says; even at current prices, the industry should generate substantial levels of free cash flow for years to come.