Last week Newmont suspended operations at its Peñasquito mine in Mexico in response to a labor strike, which has an impact on the #silver supply, as Peñasquito was the second largest silver producing mine in the world at 32.4 million ounces produced in 2022.
The development comes at a less than ideal time for a silver market that's already in a deficit, and is also facing new headwinds from a set of Mexican mining laws that if upheld, will make it even harder to mine in the world's largest silver producing nation.
And in this week's silver report with Vince Lanci, Vince looks at this latest development, within the trend of some of the metals producing nations becoming more protective of the resources they hold. He talks about the geopolitical dynamics in nations like China, India, and Mexico that are shaping the future of the silver mining industry, and what that will mean for silver investors in the years ahead.
So to be aware of the latest trends in the silver market, click to watch this video now!
00:00 Introduction 00:17 Silver in the BRICS 00:38 Market Behavior & Premiums 01:00 Wealth Transfer from West to East 03:12 Newmont Situation & Mexico 09:45 Silver Strikes & Production Costs 16:44 China, Silver, and its Applications 19:24 Silver Price Analysis 21:41 Conclusion
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