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Global surge in silver output passes SA by

Posted on 08 May 2015

South Africa is Africa’s second-largest silver producer, but it is minuscule when compared with global supply, which last year notched up a 12th consecutive year of growth to reach 877-million ounces. Silver in SA is largely a by-product of other mining processes, and production has remained constant at about 2.8-million ounces a year over the past decade.
Silver is used mainly in industrial, jewellery and investment applications. The silver market ended last year with a 4.9-million ounce deficit, but the price fell 20% to $19.08/oz, the lowest average annual price since 2009, according to the 2015 World Silver Survey compiled by Thomson Reuters GFMS………………………………………..Full Article: Source


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