High demand for silver
In 2021, demand for silver reached its highest level since 2015.
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In the pandemic year 2020, global silver demand declined. But in 2021, it increased by around 19 percent to 1.05 billion ounces, according to the World Silver Survey. This was even more than before the pandemic. That leaves only about 40 percent of the silver, because about 60 percent of it is used in industry, for investment. In the case of gold, on the other hand, most of it is still there because it is processed as jewelry, poured into gold bars or stored for investment purposes. In 2021, silver demand was greater than supply at 997.2 million ounces. If recycling is excluded, the supply deficit is even larger (about 225 million deficit instead of just under 52 million ounces). The growing demand came for silver from industry, but bars and coins were also in high demand.
For the current year, silver production is expected to increase by around 2.5 percent compared to the previous year. The increase will come primarily from mines in Mexico and Chile. Recycling is also expected to provide more silver. On the demand side, on the other hand, it is particularly the solar industry and the automotive sector, as well as investors, that are ensuring rising demand for silver. Another new driver will be 5G technology. Here, the Silver Institute forecasts that demand will double by 2025, and by 2030, demand from this sector is even expected to see a 206 percent increase over today's demand. This also includes wiring, semiconductor chips, and devices and systems from the microelectromechanical sector. Silver is the business of Discovery Silver and of Vizsla Silver.
Discovery Silver is scoring with its immensely large Codero silver property in Mexico. Drilling is running at full speed and producing encouraging results.
Vizsla Silver - https://www.youtube.com/watch?v=KehewUd5rVg - owns the Panuco silver-gold project in Mexico. Production is not far off. In addition, there is the Blueberry project in British Columbia.
Corporate information and press releases from Discovery Silver (https://www.resource-capital.ch/en/companies/discovery-silver-corp/ ) and Vizsla Silver (https://www.resource-capital.ch/en/companies/vizsla-silver-corp/ ).
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