Thursday, 2 February 2017
United States Geological Survey: Silver Has 20 years global supply left
From 12th minute onwards.
According to the USGS, total global silver reserves are now 570,000 mt. Thus, if we divide 2015 production of 27,300 mt, we end up with 20 years worth of global silver reserves remaining...
at current rates of annual production.
You will notice, that Chile now
has silver reserves of 77,000 mt for 2015. However, the USGS had a “NA”
next to Chile’s silver reserves in its 2009 Silver Commodity Summary.
Furthermore, the top three countries (Peru, Australia & Poland)
account for 51% of the total world silver reserves at 290,000 mt.