Australia’s biggest silver mine in two decades taps solar boom

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PinkDiamond
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Australia’s biggest silver mine in two decades taps solar boom

Postby PinkDiamond » Mon Sep 13, 2021 5:25 pm

This will certainly be a boon for Australia, and let's hope it produces as much or more than they expect it to. :)

Australia’s biggest silver mine in two decades taps solar boom
Bloomberg News | September 7, 2021

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Bowdens, set to start operations in 2023, will have an initial output target of 6 million ounces of silver a year. (Image courtesy of Silver Mines.)

"An Australian prospector is aiming to tap into what it says is a robust long-term demand outlook for silver, a key ingredient in solar panels.

Silver Mines Ltd.’s Bowdens project in New South Wales — set to start operations in 2023 — will have an initial output target of 6 million ounces a year, said Managing Director Anthony McClure. That will make it the country’s biggest new mine for the metal in more than two decades, and Australia’s No. 2 silver producer behind South32 Ltd.‘s Cannington mine in Queensland.

“The resource is vast, and growing — it’s the largest undeveloped silver project in Australia and one of the largest in the world,” McClure said in an interview. Silver’s role in the energy transition will aid the long-term fundamentals, and the project will also chip away at Latin America’s market domination, he said.

Mexico is the world’s biggest miner of silver, which is also used in electronics, jewelry and bars and coins, followed by Peru. McClure said the Bowdens project trades at a discount to its U.S.-listed peers because of its location, and it’s seeking greater North American ownership. Shareholders include global resources investors such as Sprott Inc. and Van Eck Associates Corp.
While silver is a by-product at many Australian mines, resources identified to date have lacked the scale to make standalone developments viable

Silver prices tested an eight-year high in February amid a retail investor frenzy stoked by Reddit’s WallStreetBets forum. They’ve cooled since then, however, tracking a pullback in gold as investors switched to assets more exposed to the global economic recovery. Still, the precious metal remains elevated compared to its levels for most of the past decade.

“Silver has come off over the past couple of months,” McClure said. “We’re not concerned about that. Our mantra has been to de-risk the project and hopefully that will coincide with a stronger market.”

While silver is a by-product at many Australian mines, resources identified to date have lacked the scale to make standalone developments viable. The country is the world’s No. 5 silver miner, producing around 44 million ounces a year, according to The Silver Institute. That compares with 178 million ounces from Mexico and 110 million from ... "


https://www.mining.com/web/australias-b ... solar-boom
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Re: Australia’s biggest silver mine in two decades taps solar boom

Postby SwordfishMining » Tue Sep 14, 2021 1:51 am

There have been millions of ounces taken off the market & out of the paper trading available markets. The price has been held down to historic lows if you look at rarity & the dollars it is compare to & priced in. Im buying as many ounces as I can & I expect at least a doubling of my money or many more times if it goes way way south of the normal. Go read some of the factual research on Wall Street silver that is dedicated to watching the squeeze and reporting on the buying off the market more than can be produced leading to record margins.
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Just one of hundreds of posts warning about not owning silver when the reset is sprung.
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The r/wallstreetsilver link to the due dilligence
https://www.reddit.com/r/Wallstreetsilv ... diligence/


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