Loading ...parts:
The Silver Institute now predicts a 13% decline in mined production from Latin America this year, with global supply set to shrink 7.2%, said executive director Michael DiRienzo. That’s based on 67-million fewer ounces coming out of the region, which would be enough silver to make about 100-million solar panels.
While the highest silver prices in seven years give producers plenty of incentive to ramp back up, much of the metal is produced as a byproduct in copper, gold, zinc and lead mines. In the case of the latter two, prices have remained low.
“There are huge producers that aren’t really silver mines,” Wiggers de Vries said. “So, that kind of becomes one of the risks for silver supply going forward.”
Comment: I saw a Bloomberg headline re Agnico Eagle CEO says $2500 Gold no problem. But I couldn’t find the story.