Finlay Minerals reports 2024 field results from PIL property in British Columbia
The PIL property is in the heart of the Toodoggone mining district of British Columbia.
The global silver deficit is expected to fall by 4% to 182 million ounces in 2024, with growth of 2% in total supply offsetting demand growth of 1%, the Silver Institute industry association said on Wednesday.
Silver, used in jewellery, electronics, electric vehicles and solar panels as well as an investment, faces the fourth year of a structural market deficit, the Silver Institute said in a review prepared with consultancy Metals Focus.
Record industrial demand and a recovery in jewellery consumption will lift demand to 1.21 billion ounces in 2024 despite a 16% decrease in physical investment, according to the review.
Mine supply is expected to rise by 1% led by higher production in Mexico, Chile and the US, while recycling will add 5% due to a spike in western silverware scrap.
With spot silver prices up 32% so far this year amid gold’s rally and improved outlook for industrial demand, exchange-traded products (ETPs) are on track for their first annual inflows in three years, according to the review.
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