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The worldwide pandemic has closed down a number of mining territories worldwide, taking off a big piece of silver manufacturing, this according to Keith Neumeyer, CEO of First Majestic Silver.
" In 2018, we created, as an international sector, 855 million ounces of silver. Up until now, we've had Peru come offline, with 145 million ounces, we have actually had Chile come offline with 42 million ounces, we have actually had Argentina come offline with 26.5 million ounces. That's a total of 213.5 million ounces that has actually now been closed down," Neumeyer informed Kitco Information.
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Physical silver supply squeeze about to get worse warns Keith Neumeyer
The global pandemic has shut down several mining jurisdictions around the world, taking off a large chunk of silver production, this according to Keith Neumeyer, CEO of First Majestic Silver.
“In 2018, we produced, as a global industry, 855 million ounces of silver. So far, we’ve had Peru come offline, with 145 million ounces, we’ve had Chile come offline with 42 million ounces, we’ve had Argentina come offline with 26.5 million ounces. That’s a total of 213.5 million ounces that has now been shut down,” Neumeyer told Kitco News.
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