Silver and sun - an ideal pair
The renowned Silver Institute forecasts that silver consumption will almost double by the year 2025. China (40 percent), Europe (17 percent), North America (12 percent), Asian countries and India are mainly responsible for this. Europe has added around 20 gigawatts of capacity in 2019, twice as much as it would otherwise have done between 2013 and 2018, due to global efforts to reduce fossil fuels and the legislation of many countries to cut CO2 emissions.
100 million ounces of silver, or about 11 per cent of the total silver production last year, probably went to the photovoltaic industry. Europe has added around 20 gigawatts of capacity in 2019, twice as much as usual in the years between 2013 and 2018.
Silver has strong reflective properties and the lowest electrical resistance and therefore no other metal is so suitable for the solar industry. Silver is also unique when it comes to durability. In California, for example, a solar power system is mandatory for new buildings. The mining industry also benefits from green energy. After all, it is precisely at locations such as South Africa, Chile or Western Australia, where it is sunny but remote, that electricity can be produced in this way.
Thus, the photovoltaic sector remains an important area for future demand for silver and also for remote mining companies. Companies such as MAG Silver or Endeavour Silver should also be happy about the high silver price at the moment.
MAG Silver specializes in silver projects on the American continent: https://www.commodity-tv.com/play/newsflash-with-summa-silver-karora-resources-and-mag-silver/. Especially the Juanicipio silver project in Mexico, which is being advanced together with its partner Fresnillo. The infrastructure is currently being developed above and below ground.
Endeavour Silver has established itself as a silver producer in Mexico for many years, operates three mines there and is always looking for new projects: https://www.commodity-tv.com/play/endeavour-silver-virtual-roadshow-investor-presentation/. Some already exist in Mexico and Chile.
The latest company information and press releases from MAG Silver (https://www.resource-capital.ch/en/companies/mag-silver-corp/) and Endeavour Silver (https://www.resource-capital.ch/en/companies/endeavour-silver-corp/).
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