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Gold/Mining/Energy : Silver prices
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To: Ray Hughes who wrote (1887)6/10/1999 6:17:00 PM
From: Gerald Walls  Read Replies (1) of 8010
 
Lead/zinc smelters produce silver and there is, at best, a 2% growth curve in smelter capacity planned for the next 3 years. Ditto copper. Hence, base metal by-product sources of silver are limited to 2% growth. Furthermore, gold production is peaking so silver by-product output will peak.

I'm not a mining expert, but here goes.

I would assume that with copper at such low prices that there's probably a lot of excess smelting capacity there, so new copper production may not be confined much by low smelter growth. What assumptions did you use to account for that? Also, how much copper is leached instead of smelted and does the leaching agent for copper do a good job leaching silver? If so, the low smelter growth may not be a confining factor at all.
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