China Silver Group to Promote Silver Jewelry via E-commerce Platform

Mineweb reported that next month, China Silver Group Ltd. (HKEX:0815) plans to launch an e-commerce platform in China in order to promote silver jewelry and a number of retail brands. The company’s aim is to “leverage its sales off of its existing silver production business.”

As quoted in the market news:

Chief executive of the China Silver Group Chen Wantian said the company was interested in opportunities that could secure raw materials to increase production. Speaking about the e-commerce potential, he added that there is strong demand for silver jewellery in China, with consumers viewing it has offering value for money.

The idea to develop an e-commerce platform for silver has come about given the high demand for silver jewellery, he added. The rapid pace of urbanisation in China, coupled with high disposable incomes were the other factors underscoring the decision.

The company is looking to expand annual production capacity of silver ingots by 60% to 400 tonnes by the end of 2013. The refiner said it would be able to produce and sell more than 300 tonnes of silver ingots in 2013. It sold 211 tonnes of silver ingots last year.

Click here to read the full Mineweb report.