Loading ...Apparently: Penasquito production comes in at around 30M+ ounces of Silver according to @TheLastDegree
This shutdown is significant for several reasons.
First at the highest level the world is definitely moving towards what it feels are more equitable distributions of profits as evidenced between the BRICS and G7. This is that concept manifest in a national venue.
Second and more industry focused, countries are moving to nationalize natural resources as mercantilism takes hold to various degrees. One can see it in Oil, Metals, and Lithium from Europe to China.
Finally, and more tactically, while this strike may not work, it only entices others to follow suit. Especially in countries nationalizing and negotiating with the G7 for better deals in general.
https://www.zerohedge.com/news/2023-06-08/newmont-shutdown-spikes-silver