Silver metal

Source: TOI

Subject: Miscellaneous

Context: Silver prices are projected to rise by nearly 20% in the coming months amid sustained global supply deficits and strong industrial demand.

About Silver metal:

What it is?

• Silver is a precious and noble metal known for its brilliant white lustre and dual role as a store of value and a critical industrial input, especially in electronics and renewable energy.

Key characteristics:

• Highest electrical and thermal conductivity among all metals, making it indispensable for electronics and photovoltaics.

• Malleable, ductile, and corrosion-resistant, allowing extensive use in alloys, jewellery, solar cells, and precision instruments.

Key facts (from Indian Minerals Yearbook 2023)

• India: Silver production

• India produced 7,13,768 kg of silver in 2022–23, marking about a 10% increase over the previous year. Silver in India is primarily recovered as a by-product, not from standalone silver mines.

• India produced 7,13,768 kg of silver in 2022–23, marking about a 10% increase over the previous year.

• Silver in India is primarily recovered as a by-product, not from standalone silver mines.

• Top 3 silver-producing States in India:

• Rajasthan: Dominates production through Hindustan Zinc Ltd’s Chanderiya lead-zinc smelter (≈ 99% of output). Karnataka: Minor production from gold refining at Hutti Gold Mines (Raichur). Andhra Pradesh: Holds limited resources, mainly as associated minerals.

• Rajasthan: Dominates production through Hindustan Zinc Ltd’s Chanderiya lead-zinc smelter (≈ 99% of output).

• Karnataka: Minor production from gold refining at Hutti Gold Mines (Raichur).

• Andhra Pradesh: Holds limited resources, mainly as associated minerals.

• India and silver:

• India has no major native silver deposits; silver occurs with lead, zinc, copper, and gold ores. Total silver reserves/resources are estimated at 30,267 tonnes (metal content), with Rajasthan accounting for ~86% of ore resources.

• India has no major native silver deposits; silver occurs with lead, zinc, copper, and gold ores.

• Total silver reserves/resources are estimated at 30,267 tonnes (metal content), with Rajasthan accounting for ~86% of ore resources.

World silver scenario:

• World top silver producers:

The leading producers globally are:

• Mexico (largest producer, ~26% share) China Peru

• Mexico (largest producer, ~26% share)

followed by Poland, Russia, Chile, and Bolivia.

• India’s position globally:

• India holds ~1% of global silver reserves, making it resource-constrained but production-relevant due to integrated smelting and refining capacity. Rising global demand from solar PV, electronics, and EV supply chains is tightening markets, amplifying price volatility.

• India holds ~1% of global silver reserves, making it resource-constrained but production-relevant due to integrated smelting and refining capacity.

• Rising global demand from solar PV, electronics, and EV supply chains is tightening markets, amplifying price volatility.