Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
A noticeable drop in worldwide manufacturing data has led to concerns regarding industrial demand for silver. The global manufacturing purchasing managers index released by JPMorgan and Markit, a closely watched indicator of world manufacturing output, fell from 50.7 in July to 50.1 in August, and is now only a small fraction above the level of 50 that is traditionally taken to mean contraction.
According to The Silver Institute, more than half of the demand for silver is industrial. Silver can be used for batteries, brazing and soldering, bearings and high-end electronics. Silver is also used in cutting edge solar technology. A recent study commissioned by the Silver Institute titled “The Future of Silver Industrial Demand” argues that “the rise in solar power is arguably the most significant development for silver demand in recent years. This year, demand is expected to reach nearly 70 million ounces, an increase of around 40 percent year-on-year.”
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Hecla Mining is the largest and lowest cash cost silver producer in the United States. The company has two operating mines and exploration properties in four world-class silver mining districts in the U.S. and Mexico. Last year, Hecla was the lowest-cost primary silver producer in the US, producing 10.6 million ounces of silver at an average total cash cost per ounce of negative $1.46.
Great Panther Silver Limited engages in the acquisition, exploration, and development of precious and base metal properties in Mexico. Last week the company announced the discovery of additional high grade silver-gold mineralization in an extension of the Cata Mine in the core of the Guanajuato Mine Complex.
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Comments
Jvt999
You are a name-dropping paragon of propaganda and spin. The small of amt of decreased demand, if there will be any decrease at all, is being and will be completely overwhelmed by the skyrocketing investment demand for silver. The Silver Institute is nothing but a group of silver users doing everything possible for years now, including using the govt and bullion banks, to keep the price of silver as low as possible. Better buy up boyz…your meddling in and manipulation of the markets thru your bullion bankster buddies is going to blow up in your faces. Hope you’re ready for $100…$200…$300 and higher….