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 Replies: 22 / Views: 4,396 |
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Pillar of the Community
Canada
1581 Posts |
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Correct, and 70 M oz is a small fraction of the total production in 2015 (887 M oz).
8% is actually a staggering percentage for one specific industry. Quote:I'm not sure who sold 30 million ounces per year but RCM sold 10.6 ounces just last quarter alone and they definitely don't hold the world monopoly on silver sales. So, you get my point. Bullion coin production, which is widely held, is possibly a larger consumer of physical than solar panels. Coins are far easier to shake loose than solar panels. But, a lot harder to collect in massive quantity than silver in the form of large bars sitting in a vault. Quote:
The world silver reserve is estimated at about 600 thousand tons (almost 20,000,000,000 oz). That amount of silver could fuel the solar industry for the next 3 centuries.
Reserves are usually a term referring to known or likely supply available from existing mines. So, that would have to mined economically to become a factor. The question is, how much physical silver is available above ground in a form that is quickly and economically available to industry? |
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Pillar of the Community
 Canada
2845 Posts |
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So, you get my point. Bullion coin production, which is widely held, is possibly a larger consumer of physical than solar panels.
No, I have to admit I'm not getting your point. n 2015, global silver mine production reached 886.7 million ounces. http://www.silverinstitute.org/site...-production/The 30 to 40 million ounces per year that RCM sells in NCLT is such a tiny fraction that if these totals were rounded to the nearest hundred thousand, it would amount to zero. There is no reason for the demands of industry, let alone manufacturing of solar panels, to cause a catastrophic hike in silver prices. On the remote chance that did occur, Chinese solar panels would price themselves beyond what is affordable to the global worldwide marketplace. Either cheaper alternative means to produce solar cells would be found or some other focus would soon take its place. It's a matter of economics and what governments can afford...Canada, obviously not much. |
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Pillar of the Community
United States
2408 Posts |
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Reserves are usually a term referring to known or likely supply available from existing mines. So, that would have to mined economically to become a factor.
The question is, how much physical silver is available above ground in a form that is quickly and economically available to industry?
That's a very good question. The reserve mentioned does not account for all the silver that is available out there (i.e. junk silver). Silver is just too abundant in the earth's crust to ever become a rarity - at least to the level of gold or platinum. In fact, the metal is primarily produced as a byproduct of electrolytic copper refining, gold, nickel, and zinc refining, and by application of the Parkes process on lead metal obtained from lead ores that contain small amounts of silver. (source: Wikipedia) In other words, even when you aren't looking specifically for silver you find some. |
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Pillar of the Community
Canada
2845 Posts |
Anyone with a keen interest in mining and having the opportunity, a trip to Guanajuato, Mexico is a Must-Do. Extremely educational, absolutely astounding how gigantic some of these old Mexcan mines were, in the thirst for riches. This one has elevator shafts going from level to level and a train in and out. La Valenciana mine: Guanajuato's Silver City "Silver was first discovered in Mexico's Bajio region in the mid-1600s. A century later, Guanajuato was the leading center of silver mining in the world and today, both the city of Guanajuato and its adjacent mines are designated UNESCO World Heritage Sites." http://www.visitmexico.com/en/silve...juato-mexico |
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Pillar of the Community
Canada
1751 Posts |
A very interesting topic. I would need to watch the markets for a few more weeks. I quit watching silver prices in Mar. I got borrowed with it hanging around the $20 mark. Silver price rising would indicate the world market economy would be in a sad state.
I'm not sure I want a worldwide market collapse, just so my silver becomes more valuable? It's seems the only time silver & gold increase in value, is when the world markets are in the crapper.
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Valued Member
Canada
256 Posts |
"Silver price rising would indicate the world market economy would be in a sad state.
" - not necessarily
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Pillar of the Community
Canada
2845 Posts |
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Silver price rising would indicate the world market economy would be in a sad state.
" - not necessarily
The recent increase is indeed attributed to a sagging global economy and the Brexit vote appears to have panicked the situation even further. While both gold and silver are volatile investments, it times of uncertainty they become preferable as opposed to the perceived higher risk associated to other types of investments including stocks and bonds. That does not mean that people are hauling away truckloads of it --- unit funds basing their value in bullion are presently popular as well. |
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Replies: 22 / Views: 4,396 |
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Posted 07/11/2016 01:21 am
