{"id":1488609,"date":"2024-09-08T02:45:00","date_gmt":"2024-09-08T06:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1488609"},"modified":"2024-09-08T02:45:00","modified_gmt":"2024-09-08T06:45:00","slug":"silver-the-unsung-hero-of-the-new-economy","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/silver-the-unsung-hero-of-the-new-economy\/1488609\/","title":{"rendered":"Silver: The Unsung Hero Of The New Economy"},"content":{"rendered":"

Silver: The Unsung Hero Of The New Economy<\/span><\/p>\n

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Silver demand continues to surge,<\/strong> driven by technologies like solar power and AI.<\/strong><\/p>\n

In 2023 alone, the silver market experienced a 15% supply deficit. Furthermore, the market is expected to reach a cumulative deficit of 1,093.4 million ounces from 2020 to 2024.<\/p>\n

In this graphic by\u00a0Outcrop Silver<\/a>, Visual Capitalist’s Bruno Venditti discusses <\/a>how new mines are necessary to meet the high demand for the metal.<\/p>\n

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Silver is Essential for New Technologies<\/h2>\n

According to Sprott, Silver is second only to oil as one of the most widely used commodities, with more than 10,000 applications worldwide.<\/p>\n

The metal is a key component in photovoltaic cells used in\u00a0solar power<\/a>. The average solar panel requires 20 grams of silver.<\/p>\n

Electric vehicles also use between 25 and 50 grams of silver.<\/p>\n

In addition, the metal is essential for semiconductors, controls, sensors, and LIDAR technology in AI-enabled transport. Silver is also critical in healthcare AI, through conductive silver nanoparticles in wearable electronic skin patches.<\/p>\n

The average cell phone contains 0.34 grams of silver.<\/p>\n

The Risk of a Supply Gap<\/h2>\n

Despite silver\u2019s importance, declining ore grades and depleting reserves at existing mines are reducing the metal output.<\/p>\n

The industry also suffers from a lack of investment in primary silver mines. Today, over 70% of silver is mined as a byproduct of gold, copper, and other metals.<\/p>\n

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Production is also concentrated in three countries\u2014Mexico, Peru, and China\u2014which together account for half of global silver production.<\/p>\n

The Future of Silver<\/h2>\n

If current circumstances continue, new mines will be necessary to meet the growing demand.<\/p>\n

Outcrop Silver is quickly advancing the Santa Ana high-grade silver deposit in the Mariquita District, known as the highest-grade primary silver district in Colombia, with historic silver grades among the highest in Latin America.<\/p>\n

The Indicated Grade for the Santa Ana project is ranked the second highest in the world.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 09\/07\/2024 – 22:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/commodities\/silver-unsung-hero-new-economy<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Silver: The Unsung Hero Of The New Economy Silver demand continues to surge, driven by technologies like solar power and AI. In 2023 alone, the…<\/p>\n","protected":false},"author":0,"featured_media":1488610,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1488609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1488609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1488609"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1488609\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1488610"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1488609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1488609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1488609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}