Two-Thirds Of The Top Primary Silver Miners Suffered Production Declines In 2017 [zero hedge]
TAHOE RESOURCES (TAHO)
Last tahoe resources earnings: 11/6 04:05 pm
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Source: zero hedge
By the SRSrocco Report,It has been a rough year for many primary silver miners as two-thirds have suffered declines in production. Also, many high ranking silver producing countries are also experiencing a pronounced reduction in their domestic silver mine supply. According to the data put out by World Metal Statistics, Chile's silver production is down 20% in the first eight months of the year, while Australia is down 19%, Mexico declined 2% and Peru lower by 1%.The Silver Institute will be releasing their 2017 Silver Interim Report shortly which will provide an update on current silver production and forecasts for the remainder of the year. However, I believe global silver production will take a big hit this year due to several factors including, falling ore grades, mine closures, and strikes at various projects.For example, Tahoe Resources was forced to shut down its Guatemalan Escobal Mine in July due to a temporary suspension of its operating license by the country's Supreme C
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