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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Alan Whirlwind who wrote (7505)	8/29/1999 9:57:00 PM
From: goldsheet	Read Replies (1) \| Respond to of 81271

The last number I had for silver production was 1997 (16400mt). Fortunately you mentioned the Silver Institute site which helps prove my point: World mine production of silver increased by five percent in 1998, to reach a new record level of 545.5 Moz (16,970 t). It is interesting that Cannington, which will produce 750mt (over 20 million ounces) isn't listed on their Top 10 mines. I suspect it isn't wasn't up to full production capacity in 1998, but I can't find an exact number on he BHP website. > Yet demand far outpaces supply. If you have read my other posts, you already know his is one of my personal pet peeves ;) SEMANTICS/ECONOMICS: supply=demand, but total demand exceeds primary mine production. This is true for all metals. Other than aluminum, silver is the most recycled metal. Another big factor is less than 26% of silver comes from silver mines, so the other 74% is price insensitive. Copper., lead-zinc, and gold miners will keep producing silver by-product and dumping it on the market regardless of the silver price.