The green revolution requires raw materials

Colombia has many of the raw materials for change. And the country is well equipped to provide these ingredients. President Gustavo Petro has announced a number of measures, and he is supported by his Resources Minister Irene Velez. This is because the economy is to be decarbonized and Colombia wants to export clean energy. Each year, forecasts suggest, demand for solar panels could go up by around 30 percent. Colombia has the potential to become a major supplier of silver. As such, the country's ambitions fit well with its mineral resources. These are an important part of the country's economy. According to the Colombian Mining Association, exports last year were reported to be around $22 billion. In the years before that, by contrast, the average value was around 12 billion U.S. dollars.

In addition to the silver content in solar modules, which is causing silver consumption to rise, more silver is also being used in electric vehicles than in conventional vehicles. According to the World Bank, silver demand could increase significantly by 2050. Up to 50 percent higher silver demand than the current total is considered possible. This is because electric vehicles have significantly more electronics installed than internal combustion vehicles, and therefore also more silver.

Hecla Mining, for example, estimates that an increase in silver demand from 120 million ounces today to up to 500 million ounces by 2050 is within the realm of possibility. Silver is not only available in Colombia, but also especially in the silver country Mexico, for example at MAG Silver - https://www.commodity-tv.com/play/mag-silver-further-ramping-up-at-juanicipio-and-exploration-at-deer-trail-and-larder/ - with its ambitions to become a primary silver company. The main project is the Juanicipio project in the Fresnillo Trend in Mexico, and the partner is Fresnillo. The 2022 Juanicipio mine is estimated to have produced just over nine million ounces of silver and about 22,000 ounces of gold.

Discovery Silver - https://www.commodity-tv.com/play/discovery-silver-importance-of-metallurgy-results-to-upcoming-pfs-explained/ - is also located in Mexico with its Codero silver project. This is 100 percent owned by the company and it has a positive preliminary feasibility study.

Current corporate information and press releases from MAG Silver (- https://www.resource-capital.ch/de/unternehmen/mag-silver-corp/ -) and Discovery Silver (- https://www.resource-capital.ch/de/unternehmen/discovery-silver-corp/ -).

In accordance with §34 of the German Securities Trading Act (WpHG), I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.

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