Mexico's Leading Producer Of Silver In The World

Mexico's leading producer of silver in the world


Finance - Thursday, April 7, 2011 (15:08 hrs)

•He seizes the job in Peru
New York, April 7 .- Mexico seized in 2010 to Peru as the largest producer of silver in the world, according to industry projections, maintain that position for this year, said the annual survey silver 2011.

Published by the Institute de la Plata, the study noted that Mexico produced 128 million troy ounces of silver in 2010, which represents more than one-sixth of the 735.9 million troy ounces produced in the year.

Mexican production increased 13 percent between 2009 and 2010, largely driven by the ability redoubled Peñasquito mine, said Philip Klapwijk, executive chairman of the Silver Institute.

"In 2012 we will see even greater growth of mining in the world. And Mexico will remain the main source of growth, with double-digit rise in their production, "said Klapwijk.

The rise is due to the increased productive capacity that is Mexico, improved infrastructure facilities and mining, as mines that began operating in 2009 were in top form in 2010, explained the expert.

The growth in production in Mexico in 2010 came just as the silver showed a surprising increase of 78 percent in prices, driven by a 20.7 percent increase in world demand for this metal.

Also, global investment in the sector grew 40 percent, which meant that the industry received five thousand 600 million dollars last year, a figure almost double that of 2009.

"In 2010 they returned to provide inventories of silver, plus there was great demand for the metal in many industrial applications such as in the electronic marketplace," said Klapwijk.

The expert also noted that silver was seen last year as an investment, as especially in times of economic uncertainty.

But he warned that the silver is very volatile to be used as a traditional investment instrument and its fluctuations in prices, either upward or downward, are much higher than gold. (With information from agencies / JOT)

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