Advanced energy, technology fuel demand for silver
December 15, 2011
Last year, a record 242.9 million ounces of silver were needed to...
Silver is one of the most indispensable elements on Earth and plays a major role in the technologies we use every day. From supporting the world’s strongest defense systems to eradicating the most deadly bacteria, the infographic below shows how integrated silver is in our daily lives.
Its unique properties of strength, malleability, reflectivity and conductivity make it an extremely versatile metal and the material of choice for many manufacturers. Because of this versatility, silver is an integral part of our domestic manufacturing sector, providing essential support to the production of our national security and advanced energy technologies, consumer electronics and medical innovations.
Moreover, silver is a major economic driver and a job creator in the United States. In 2014, more than one thousand tons of silver was produced in six states, valuing at approximately $718 million. Silver will continue to be in high demand, meaning economic growth and increased job creation for silver rich states, like Nevada.
To meet the high demand of silver and contine to support the industries that rely on this critcal mineral, a more efficient U.S. mine permitting process is needed. The United States is home to a mineral reserve base worth $6.2 trillion, and if our nation wishes to bolster domestic manufacturing and remain a leader in global innovation, Congress must pass legislation to improve access to critical minerals like silver.
For more information on the role minerals play in our everyday lives, see our tool kit here.