Precious Metals

Mineweb reported that the global supply of silver could reach 1 billion ounces this year as producers ramp up output.

Mineweb reported that the global supply of silver could reach 1 billion ounces this year as producers ramp up output.

As quoted in the market news:

Silver mine production in market economies was 713.6 million ounces in 2011, surpassing the 700-million ounce mark for the first time on record. Mine supply increased most strongly in China and Mexico, the two largest silver producers. Silver mine supply is forecast to reach 729 million ounces this year, up 15.4 million ounces from 2010.

Click here to read the full Mineweb report.

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