L' argent (silver)

Discussions traitant de l'impact du pic pétrolier sur l'économie.

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Paulad
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Re: L' argent (silver)

Message par Paulad » 21 févr. 2019, 21:29

energy_isere a écrit :
21 févr. 2019, 21:18

si si, dans mon industrie on a besoins de brasures à L' Argent Cuivre pour des boitiers en electronique. Du genre brasure Ag 72% Cu 28%.
Compris ! Mais dans une optique de pénurie, dans un premier temps tout ce qui est joaillerie pourrait être coupé de la demande pour préserver la ressource. (Bien entendu je sais que çà ne se passera jamais comme çà)

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Re: L' argent (silver)

Message par energy_isere » 14 avr. 2019, 10:09

La production minière d'argent à reculé de 2 à 3 % en 2018.
Silver Demand Hit A 3-Year High In 2018 - World Silver Survey

Neils Christensen Neils Christensen April 11, 2019
Kitco News

The silver market looks “promising” in 2019 as the supply and demand picture is expected to remain relatively stable compared to 2018, according to the latest research from the Silver Institute.

The institute’s annual World Silver Survey, published Thursday, said that global silver demand hit a three-year high in 2018, surpassing more than one billion ounces, an increase of 4% from 2017.

At the same time, global silver mine production fell for the third straight year, dropping 2% in 2018 to 855.7 million ounces.

However, despite strong demand and falling mine supply, silver prices struggled, averaging the year at $15.71 an ounce, a drop of nearly 8% from 2017.

Johann Wiebe, lead analyst at the GFMS Team/Refinitiv, the research firm behind the survey, said in a telephone interview with Kitco News, that silver’s fundamentals are disconnected with the price because of massive liquid above ground stocks.

The report noted that in 2018 above ground silver supply totaled more than 2.5 billion ounces, which was a 3% decline from the previous year. However, this was the first decline in above ground stocks after nine years of consecutive growth. At the current pace of demand, silver inventory represents a two-and-a-half year supply, Wiebe said.

Although Wiebe is positive on silver prices through 2019, he added that it will be difficult for prices to push above $20 an ounce this year because of the overhanging stockpiles.

Even in a struggling price environment, the survey noted that silver remains an attractive alternative safe-haven asset as investors shy away from other expensive assets like gold.

Although the U.S. saw silver bullion demand drop to unprecedented levels in 2018, the global demand picture was a lot brighter. Physical silver investment was driven primarily by bar demand, which increased 53% last year. India in particular saw exponential growth for physical silver with demand for silver bars jumping 115%.

“People are turning to silver because of its huge price divergent with gold,” Wiebe said. “The gold-silver ratio is ridiculously high and is not sustainable, it’s just a question of when the ratio comes down.”

While consumer demand for silver was solid last year, industrial demand, which makes up 50% of the silver market, was slightly down, falling 1% to 578.6 million ounces last year. The survey said that lower demand from the solar sector was the primary reason for the decline in industrial consumption. Over the years, companies have been able to reduce the amount of silver used in photovoltaics solar panels, a trend referred to as thrifting.

Looking ahead, Wiebe said that photovoltaics solar panels remain a critical sector for silver demand as it looks like thrifting has plateaued.

“Solar power capacity is expected to continue to grow and that is going to have a stronger impact on demand than the effects of thrifting,” he said.

Finally, turning to mine supply, Wiebe said that supply is expected to push higher from 2018 as base metals prices have been fairly healthy since the start of the year. Although primary silver production is expected to remain weak, the metal is also produced as a byproduct in many base-metal projects.

“I think we could see a rise in silver production next year, but the market still faces supply shortages as exploration budgets have been cut,” said Wiebe.

Looking ahead, Wiebe said that he doesn’t see any drastic changes in the silver market in 2019; he added that although mine supply could increase, demand is expected to remain at around 1 billion ounces. Even a slowdown in economic growth is not expected to dampen silver demand this year.

“If industrial demand falls slightly because of an economic growth, it could easily be made up with an increase in investment demand as silver will be seen as a undervalued safe-haven asset,” he said.
https://www.kitco.com/news/2019-04-11/S ... urvey.html

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Re: L' argent (silver)

Message par energy_isere » 14 avr. 2019, 11:12

La production d'argent minier au plus bas depuis 70 ans aux USA.
Silver production at the lowest level in more than 70 years

March 21, 2019

From Steve St. Angelo: With the latest release by the USGS, silver production in the U.S. is now the lowest in more than 70 years. We have to go all the way back until the year after World War II ended to see U.S. silver production less than it was in 2018. While many reasons can be attributed to the decline, the main factors are falling ore grades and mine economics.
......
https://etfdailynews.com/2019/03/21/u-s ... -70-years/

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Re: L' argent (silver)

Message par energy_isere » 25 avr. 2019, 21:25


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Re: L' argent (silver)

Message par energy_isere » 08 sept. 2019, 11:01

Le projet de mine d'argent Bowdens est le plus gros gisement inexploité en Australie. 150 million d'euro à investir.
Bowdens Silver Project in Australia

The Bowdens silver project is located 26km east of Mudgee, in the Central Tablelands Region of New South Wales. The project is regarded as the largest undeveloped silver project in Australia and also one of the biggest in the world.

Silver Mines Limited (Silver Mines) acquired the mining property in June 2016 and is developing it with an investment of £135.79m (A$246m).

Feasibility study for the project was completed in June 2019. The mine is expected to produce 52.9 million ounces (Moz) of silver, 108,000 tonnes (t) of zinc, and 79,260t of lead through its life of mine (LOM) of 16 years.

Silver Mines proposes to begin construction in January 2020 and production in 2021.

........

The Bowdens silver project is proposed to employ conventional open-cut mining methods to extract ore and feed the 2Mtpa processing plant.
......
https://www.nsenergybusiness.com/projec ... r-project/

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Re: L' argent (silver)

Message par energy_isere » 08 sept. 2019, 11:08

La production minière mondiale d'argent devrait rebondir d'ici 2023 grâce à de nombreux projets dans le pipe.
Global silver production to exceed 1bn ounces by 2023

28 August 2019

Global silver production, which has been declining since 2016, is expected to recover from the 2019 output of 913.5Moz to reach 1,029Moz in 2023.

This will be supported by nearly 50 projects producing silver as either the primary or secondary commodity. These are currently undergoing construction, and are expected to commence operations in the forecast period.

Upcoming projects

Major upcoming projects are the El Cajon in Mexico, the Candelaria 2030 in Chile, Fruta del Norte and Mirador in Ecuador and the Ozernoe and Udokan projects in Russia.

Global silver mine production declined moderately by 2.4% to 920Moz in 2018, with a significant decrease in the US (12.6%). Here, labor strikes at the Lucky Friday mine severely impacted output from the mine. This was followed by Peru (5.8% decrease) and Mexico (5.6%). Here, lower ore grades and lower recovery rates led to falling output.

Increases in production in China (2%) and Russia (3.4%) partially offset the 2018 declines. The overall robust performance of the base metals sector in China – where silver is a by-product – and production increases at Russia’s Albazino, Svetloye and Mangazeisky mines were the key factors behind the growth in these countries.

Leading the way
Mexico, Peru, China, Russia, and Chile were the world’s top five producers of silver. These countries accounted for a collective 60.5% or 556.9Moz of silver in 2018. Industrias Penoles SAB de CV (Penoles), KGHM Polska Miedz SA (KGHM Polska), Glencore plc, Newmont Goldcorp Corp, and Polymetal International Plc are the largest operators in the global silver mining industry.

Penoles produced 69.8Moz of silver in 2018 versus 66.4Moz in the prior year, a rise of 5.1%. Production from the remaining four companies fell from a collective 136.1Moz in 2017 to 126.6Moz in 2018 – a 7% decline.
https://www.mining-technology.com/comme ... s-by-2023/

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Re: L' argent (silver)

Message par energy_isere » 29 sept. 2019, 10:29

Inefficient and uncertain: is silver losing its lustre?

By JP Casey 26 sept 2019

Once considered a “safe haven asset”, silver has seen its performance blighted by inefficient production, international tensions and collapsing prices, casting doubts over the future of the commodity. While technological improvements and the growing demand for solar panels could inspire a recovery in silver, the future of the metal remains uncertain. JP Casey takes a look.

In June, investment research firm Zacks dubbed the future of silver “dismal”, ranking the strength of the metal’s market in the lowest quarter of 256 commodities profiled, ultimately placing silver 192nd on the leader board. The group claims that the top half of its ranked industries perform, on average, more than 50% better than the bottom half, and silver’s poor performance has led to a collapse in the industry’s profits, with Zacks reporting that the sector’s earnings for the year to date are 54% lower than in the first seven months of 2018.

From international tensions such as the escalating US-China trade war, to imbalances between supply and demand, silver is losing both its lustre and its stability, raising concerns amongst investors and miners alike that investing in the metal, traditionally considered a “safe haven asset” by Zacks, may no longer be such a profitable project.

Rising production costs and falling prices
The decline in the value of silver has been largely influenced by increases in the cost of silver production, with the Americas Silver Corporation (ASC) reporting at the end of 2018 that the price of producing the metal had increased from $20.30 per ounce of silver in 2017 to $23.35 per ounce of silver a year later, an increase of 16%.

This increase has been driven by the fact that silver is often produced as a by-product of other mining operations, rather than purposefully explored for and extracted. The world’s largest silver mine by production, Fresnillo’s Saucito mine in Mexico, saw production of both zinc and lead dramatically outpace silver production in 2018, with the mine producing 29,506 tonnes, 22,662 tonnes and 19,781 kilo ounces of each commodity respectively.

Polymetallic operations also face the need to effectively sort the mined ore, with a number of companies, including Tomra and Steinert, offering innovative solutions to sort ore, taking advantage of x-ray technology and automation. However, Goldcorp’s 2016 annual report found that “high carbon ore cannot be separated” at its flagship Peñasquito mine in Mexico, the world’s largest silver mine by reserve, highlighting deficiencies in the technological methods used to extract and process silver ore, further reducing the efficiency of the silver-mining industry.

This lack of specialised solutions resulted in declining production across the silver sector between 2017 and 2018, with total silver produced falling 15%, and total volume of ore processed falling 14%, according to the ASC. The group also reported increases of 7% and 13% in the cost of sales and total cash costs, per silver ounce, reflecting increases in prices across numerous stages of the silver supply chain, all cutting into the bottom line.

These issues have been compounded by falling demand, with the Silver Institute reporting in 2018 that global demand for the metal fell by 3% compared to the previous year, despite a 0.3% increase in global silver supply. This combination of inefficient production and a supply surplus has underpinned a significant decline in the per-ounce cost of silver, which has fallen consistently from $55.35 in April 2011, according to Macro Trends, to just $15 in April 2019.

These figures are both considerably lower than the all-time high of $117.69 in January 2018, and reflects the long-term consequences of an industry that has struggled to establish its own supply chains not tied to the production of other commodities, such as gold.

Improvements to production and increased demand
However, industry players remain optimistic that the fortunes of silver could change, influenced by an increase in demand for the metal. The Silver Institute predicts that in 2019, industrial demand for silver, which is responsible for 60% of total demand of the metal, will “rise modestly” across industrial operations.

The group has also pointed to the growing demand for solar panels as the world moves towards a greater reliance on renewable energy as an influential factor over the performance of silver due to the metal’s usage in solar photovoltaic cells. Researchers from the University of Kent found the metal to have the best electrical and thermal conductivity, making it an ideal component in solar cells, with around 20g of silver required to build a panel. The Silver Institute reporting that the world will construct 100GW of new solar facilities per year between 2018 and 2022, which would more than double the world’s solar capacity from the 398GW in 2017, so there is significant potential for demand for silver to recover.

Improvements in production methods could also benefit the sector in the long-term, with Goldcorp aiming to address its technological weaknesses at Peñasquito. The miner has completed test work on a “concentrate enhancement project”, which will make the separation of ore easier and enable the company to increase profits by reducing the strain on sorting machines, and increase total production of processed metals.

Mexico-based First Majestic is also committing to new technological innovations at its projects. The firm, which was the world’s 20th-largest silver miner in terms of both production and value in 2016, was ranked as the second-most favourable investment by Zacks on 22 July this year, and has announced the hiring of a vice president of information technology to streamline digital services, and unveiled what it calls a new “fine grinding technology” at its Santa Elena mine.

While the company’s total volume of ore processed fell by 13% between the second quarter of 2018 and the second quarter of 2019, total production, silver ounces produced and gold ounces produced all increased by figures of 25%, 16% and 32% over this period, demonstrating that improvements in the efficiency of production can ensure a company’s profitability, despite a struggling market and depleted reserves.
https://www.mining-technology.com/featu ... ts-lustre/

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