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The Argument for Critical Silver

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The Argument for Critical Silver

 

 

 

 

 

 

20 executives representing the Canadian silver industry have sent an open letter to Minister Wilkinson, Canada’s Minister of Energy and Natural Resources. This letter outlines the argument for silver as a critical mineral, following Canada’s own criteria for the national critical mineral list.

 

Silver is an essential element of nearly every modern device, harnessing silver being the metal with the best known electrical conductivity, thermal conductivity, and reflectivity. As a result of these qualities, silver makes modern technologies like 5G telecommunications, renewable power generation and electric vehicles possible. The increasing demand for critical minerals in a low-carbon, digital economy is resulting in unprecedented demand for fine silver by industry. The pace of mining is unlikely to meet the projected increase in demand for silver, as evidenced by recent deficits related to silver supply. In this open letter, the signatories raise the alarm on the problems that an ongoing silver deficit could present, and advocate for silver’s recognition as a critical mineral. Increased support for silver supply is necessary in order to avoid the significant shortfalls that academics are modelling to occur.

 

Natural Resources Canada is currently reviewing their methodology related to the critical minerals list and will be evaluating whether their list requires updates based on the refreshed methodology.

 

Read The Letter Here

 

Posted February 1, 2024

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