SilverCrest Mines jumped as much as 9% on Thursday on higher than usual trading volumes, after announcing silver production doubled and gold output tripled at its Santa Elena mine in Mexico.
The metal's characteristic price volatility – why traders often refer to it as the 'devil's metal' – is a deterrence for investors and silver had an especially torrid 2011.
Anglo-Australian mining giant Rio Tinto tightened its grip on Ivanhoe Mines as part of a $3.3 billion financing deal announced this morning, leading to the resignation of chief executive and founder Robert Friedland.
Toronto-listed Scorpio Mining (TSX: SPM) reported quarterly silver production at its Nuestra Señora mine in Mexico fell 10%, driven by lower head grades.
Precious metals miner Fresnillo (LON:FRES), the largest silver producer, reported its first-quarter silver production was in line with expectations, while it said higher-than-expected gold output, owing to the start up of its new Noche Buena mine.
The Canadian government followed through on last month's budget promise to streamline environmental reviews of resource projects with a plan for "responsible resource development."
