Silver production in Chile plummeted 32% in May.
This precipitous drop in output in the world’s fifth largest silver producing country is part of a broader trend of falling production and tightening silver supply.
According to reporting by Seeking Alpha citing Chile’s Ministry of Mines, the country’s silver production in May fell to 97.1 tons compared to 141.9 tons in May 2016.
Chile, a country which produced a record high of 54 million ounces of silver in 2014, is forecast to see its mine supply decline to less than 40 million ounces in 2017.’
According to preliminary production figures released by the ministry, Chile produced 485 tons of silver from Jan-May 2017. That compares with 655 tons of silver during the same period last year – a 170 ton (26%) decline.
This post was published at Schiffgold on AUGUST 2, 2017.
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