Primary silver mine supply grew by 1% to 221.6 million ounces, accounting for 28% of global silver mine output.
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Silver mine output is expected to grow by more than 6% this year, with recycled supply also on the increase.
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Based in Pheonix, Phelps Dodge has copper mining operations in the U.S., Chile, Peru and Congo, while New Orleans-based Freeport operates the vast open-pit Grasberg gold, copper, and silver mine in Indonesia, and has reserves of about 37 billion pounds of copper and 40 million ounces of gold.
Silver is actually a by-product of the gold and lead mining, there are few, if any, active mines that mine only silver.
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However, the company did raise its 2012 gold and silver production guidance with the addition of the Dolores mine, located in northern Mexico, and expects the mine to generate significant gold and silver production for years to come.
The mine also contains silver, gold and molybdenum (used in steel alloys)--a common combination found in the Peruvian Andes.
Mine supply for silver is rising faster than for other metals, helped by an increase of by-product from gold-mining operations plus a number of major primary projects in recent years.
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While visiting the mine, Fortuna Silver showed different areas where they work with the people of the area, namely the heavily impoverished area of San Jose del Progreso, 800 meters away from the mine.
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In return, it gets a portion of the silver for the life of the mine at a fixed cost.
Moreover, silver coming out of the Palmarejo mine is cheap to process.
The temporary closure of the Silver Shaft at the Lucky Friday mine was ordered last year by the federal Mine Safety and Health Administration for removal of built-up sand and concrete material.
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Close to the village of Amatlan, a large reserve of gold and silver still sits in a now unused mine.
The company said this was due to lower production rates at the Palmarejo mine, lower average realized silver and gold prices and fewer ounces of silver and gold sold.
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No production from the mine is expected this year after the federal Mine Safety and Health Administration ordered the Silver Shaft to be closed for removal of built-up sand and concrete material.
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Still, he looks for silver investment to again be strong enough to absorb any surplus in which mine and scrap supply exceeds fabrication demand, as was the case last year.
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The mine in Tibet, which produces copper, as well as some silver and gold, is operated by a subsidiary of state-owned China National Gold Group, China's biggest gold producer.
Smallwood and Silver Wheaton were well aware of the properties with more interest pointed at the Costancia mine.
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The mine in Maizhokunggar county, which produces copper, as well as some silver and gold, is operated by a subsidiary of state-owned China National Gold Group, China's biggest gold producer.
The Palmarejo mine in Mexico saw a large drop off in production during the third quarter as silver output totaled 1.8 million ounces, down 23% from the second quarter, and gold output totaled 23, 702 ounces, down 24% compared to the second quarter.
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The 777 mine saw production from Aug. 1 to Sept. 30 total 733, 000 equivalent silver ounces.
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The mine produced 55, 800 ounces of gold and 4, 203, 200 ounces of silver in the third quarter.
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The time it takes to refine dore silver bars, which are a semi-pure alloy and usually created at the site of a mine, are somewhere in the middle of jewelry and electronics.
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As Peter recently explained, this deduction of 15% of gross income from oil, gas, silver and gold extraction, can be applied creatively and cumulatively on the yearly gross returns from a mine or well.
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