We're about to experience sharp silver production declines on worldwide depression, declining ore grades, and peaking world energy resources...
As we've entered a worldwide depression, the global community is about to peak in global silver production. It's important to note that this decline will NOT be because of a lack of physical silver to mine.
The resulting silver peak will be caused by current peaking of world energy resources, a falling Energy Returned On Invested – EROI, and the degeneracy of ore grades.
These factors could inevitably contribute peak mining for any of the industrial metals as well...
Steve St Angelo predicted this back in 2009. As the global depression was postponed via bank bailouts, we are just now setting the stage for the actual peak silver season.
Now, the world is entering a time of peak silver as well as peak oil. Steve's inevitable predictions are now coming to fruition. Take a look for yourself:
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| Image courtesy of zerohedge.com in Steve St. Angelo's Peak Silver Revisted report. |
More evidence is seen if you take a look at silver production over the course of the past decade. On average, global silver production has increased by approximately 2-3 percent each year.
From 2010 to 2011, that trend is showing signs of a major shift. According to the World Silver Survey, worldwide silver production spiked up to 735 million ounces of silver in 2010. And while the 2011 silver production stats won't be complete for quite some time, data clearly shows that silver production quantities for 2011 just can't compete with last year's success. This year begins a whole new story...
While some top mining companies have increased production in 2011, many of them have experienced declines. The #1 producing silver mine in the entire world saw a drastic 18 percent decline in production from the first half of 2010 to the first half of 2011. Production quantities dropped by 3.4 million ounces at BHP Billiton's Cannington.
In fact, all mines that are suffering from falling ore grades are experiencing these sharp declines in silver production...
Here's a glimpse of silver production growth around the world; all with impressive peak production levels last year:
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| Image courtesy of zerohedge.com in Steve St. Angelo's Peak Silver Revisted report. |
Despite many analysts predictions that silver production will increase for the next decade, there are just too many contrary factors showing why that is impossible:
“It won’t matter if the global economy recovers in the next decade, because the peaking of oil and the falling EROI of energy will have destroyed enough net energy to kill any attempt to bring global silver production back to the level it was before.”
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