Metals are natural resources that are not inexhaustible. With the current rate of extraction, global mineral reserves will be depleted in a few years. Natural gas, iron, cobalt, coal and aluminum are non-renewable resources that are gradually running out. But silver will disappear faster than people think, according to specialists’ forecasts.
The use of silver
Silver is a precious metal of white color. It is a malleable and ductile metal, and allows the production of various everyday items. Silver is present in several fields of application, such as electricity, electronics, medicine and many others. This metal is used in alloy form for the manufacture of various everyday products, but it is especially prized in the field of jewelry, where it is intended to adorn and enhance the body in the form of jewelry.
Disappearance of silver in 15 years
During the year 2013, world production was 23,000 tonnes, versus a demand of 30,000 tonnes. Since 2010, China has become the largest importer of silver. And demand keeps growing, with an annual consumption of 3,500 tonnes. It should be noted that this consumption has risen considerably compared to what was recorded at the beginning of the century, with only 500 tonnes. According to Mansoor Barati, a specialist at the University of Toronto on rare metals and their recycling, global reserves will dry up around 2029. On the other hand, the United States Geological Survey estimates that the depletion of silver metal stocks could occur in 2037. Despite these estimates, the fact is that we are currently witnessing the slow disappearance of this precious metal.