Silver is at the heart of the clean energy transition, essential for solar cells and electric vehicles (EVs) due to its unmatched conductivity. As demand from the photovoltaic industry surges, outpacing supply, silver’s pivotal role highlights both the opportunities and challenges in achieving a sustainable future.
Silver experts highlighted significant challenges in meeting global demand despite robust price signals favoring increased metal production amid the expanding energy transition. This metal plays a critical role in EVs and solar cells, with demand surpassing supply in recent years, leading to depleted inventories.
According to the Silver Institute, photovoltaics alone are projected to account for 19% of global silver demand in 2024, equivalent to 232 million ounces. This represents almost a 20% increase from 2023 and a substantial 96% surge from 2022 levels.
Anticipating a deficit of 215.3 million ounces in 2024, the Silver Institute forecasts that industrial applications will drive 58.3% of the world’s total demand of 1.2 billion ounces. However, global silver supply primarily results from byproduct production associated with other metals. Moreover, despite high prices, there’s limited incentive for new production.
Shining Spotlight on Silver
Adrian Day from Adrian Day Asset Management emphasized the severity of the silver deficit, attributing it to surging demand from sectors like solar panels and EVs, which have seen demand triple in 3 years. He noted that inventories are critically low with no substantial stockpiles available to mitigate the shortage.
Day further underscored that only about 30% of silver production comes from primary silver mines, with the majority being sourced as a byproduct. This setup means that the supply of newly mined silver does not respond proportionately to price fluctuations. As a result, this could lead to heightened price volatility.
Silver prices have surged significantly this year, prompting speculation about their potential peak in the remaining 6 months. A crucial element to monitor is the supply and demand dynamics, as silver demand consistently exceeds supply.
Historically, silver demand was evenly split between industrial use and investment. However, industrial demand has surged recently, now accounting for 64% of global silver demand, a 19% increase from the previous year.
The World Silver Survey reports that 2024 marks the 5th consecutive year of a silver shortage. In 2023, demand exceeded supply, resulting in a market deficit of over 142 million ounces. This shortfall is projected to nearly double to 265 million ounces by the end of 2024 due to rising industrial demand.
This upward trend is expected to continue, driven primarily by the Green Energy Transition, especially solar energy.
Photovoltaic Surge: Solar Energy’s Growing Appetite for Silver
A growing solar power industry is fueling up the surge in the demand for silver, essential for manufacturing photovoltaic (PV) panels. Due to its high electrical conductivity, thermal efficiency, and optical reflectivity, silver is integral to solar PV production. Consequently, mining companies are aiming to boost output as silver prices climb to decade highs.
Global investment in solar PV manufacturing more than doubled last year to around $80 billion, accounting for 40% of global investment in clean-technology manufacturing, according to the International Energy Agency (IEA). China significantly increased its investment in solar PV manufacturing between 2022 and 2023.
Global renewable capacity increased by 50% to nearly 510 gigawatts last year—the fastest growth rate in 3 decades. Three-quarters of this growth came from solar PV energy, as reported by the IEA.
Demand for silver from solar PV panel manufacturers, especially in China, is forecast to increase by almost 170% by 2030. The amount could reach about 273 million ounces, which would constitute about one-fifth of total silver demand, according to investment manager Sprott.
Coeur Mining is expanding to meet the rising silver demand, completing a significant expansion of a mine in Nevada, which will become the largest source of domestically produced silver in the U.S.
London-based Hochschild Mining is also expanding its silver operations, aiming to secure permits for a silver project in southern Peru later this year. Scheduled to start production in 2027, the project is expected to add 50 million ounces of silver annually.
Some experts noted that given the underlying industrial demand dynamics and existing supply constraints, the industry may be seeing the start of a silver bull market.
Silver’s New Gold Rush
The boom in demand has led to soaring silver prices, reaching $31.3/oz as of writing. This price surge has bolstered the share prices of silver miners.
However, rising silver prices might force solar PV panel manufacturers to increase their prices later this year.
Paul Wong, a market strategist at Sprott, predicts that silver could see a rise similar to gold, which hit eight straight sessions of record highs in April. Despite trailing gold’s popularity with central banks and sovereign institutions, silver maintains a strong correlation with gold. Wong expects substantial buying from the photovoltaic industry to drive further silver demand, noting that:
“Similar to how gold bullion has soared due to a new wave of major purchasers among central banks and sovereign entities, silver has and will likely see even more substantial buying from the photovoltaic industry.”
Discussing government influence on silver mining, industry leaders highlighted regulatory policies in major jurisdictions like Mexico. The South American nation can either stimulate or deter investment in silver projects due to lengthy permitting processes.
As silver demand continues to soar, driven by its critical role in solar power and the clean energy transition, the industry faces significant challenges in meeting global needs. Despite robust price signals and increased production efforts, the supply constraints highlight the urgency for innovative solutions and strategic investments to sustain this pivotal resource’s future.
The post Silver Lining: Soaring Demand Outstrips Supply, Pushing Prices to The Roof appeared first on Carbon Credits.
Disseminated on behalf of West Red Lake Gold Mines Ltd.
The Madsen Mine, located in Ontario’s renowned Red Lake gold district, has a legacy of high-grade gold production. Historically, this region has produced over 30 million ounces of gold, proving its geological richness and mining potential. However, previous attempts to revive the Madsen Mine fell short due to operational inefficiencies and technical missteps.
Today, under the leadership of West Red Lake Gold Mines Ltd. (WRLG), Madsen is setting up to succeed. With a clear plan, robust infrastructure improvements, and lessons learned from the past, this revitalized operation is poised to deliver results.
Here’s why Madsen will work this time.
A Gold-Rich Region with Clear Rules for Success
Red Lake has long been recognized as one of the most prolific gold-producing regions in Canada. The geology is well understood, and successful mining here follows established rules of thumb. West Red Lake Gold Mines has embraced these principles to ensure Madsen’s success.
One critical factor is drilling density – how much drilling is done to really understand the deposit before mining it. The previous operator tried to mine the deposit using drill holes about 20 meters apart. This method didn’t work well for Red Lake’s narrow vein deposits.
The rule of thumb in this region is 7-meter spacing to define a resource for mining accurately. West Red Lake Gold has followed this standard to define the tonnes it will mine in the first 18 months, with 90,000 metres of drilling already done. It will keep doing this definition drilling for Madsen’s entire lifespan. This commitment ensures precise resource estimation and minimizes risk during production.
Proactive Development: Building Access for Efficiency
Mining narrow vein high-grade deposits requires proactive planning and development. A key lesson from past operators is the need to access multiple work areas at the same time. This means driving tunnels to mining areas is planned 6 to 12 months. The tunnels are used first for definition drilling and then for mining.
West Red Lake Gold has been developing access at Madsen for over 1.5 years already. This approach ensures that drilling and mining operations can proceed smoothly across several areas at any given time.
By jumping in and getting access development done, the company has mitigated challenges that previously hindered deposit model accuracy and productivity at Madsen and set the stage for sustainable operations.
Infrastructure Upgrades: Efficiency at Every Level
Operational efficiency is essential for modern mining success. So WRLG made significant investments in upgrading Madsen’s infrastructure. The prior operator built the mine on a tight budget, leaving several critical projects incomplete. These omissions led to inefficiencies that hampered productivity.
West Red Lake Gold tackled these issues directly by finishing important infrastructure projects. These projects boost efficiency throughout the mine:
- Connection Drift: An underground highway to move material smoothly within the mine.
- On Site Camp: Quality accommodation facilities to attract and retain good staff.
- Mine Dry Facility: Enlarging spaces for workers to prepare for shifts.
- Maintenance Shop: Enabling proper equipment upkeep for higher availability.
- Primary Crusher Upgrade: Improving rock processing capacity.
- Tailings Dam Lift: Setting up waste management capabilities proactively.
These upgrades have made Madsen more efficient. Now, it can handle modern production needs and reduce downtime.
Operational Readiness: Building for Success
Mines are complex systems that require careful preparation before full-scale operations can begin. West Red Lake Gold understands this and has prioritized building out, testing, and refining each component of Madsen’s operations before starting production at full capacity.
The company has made significant progress in preparing Madsen Mine for its restart. Underground development rates are steadily increasing, ensuring access to multiple mining areas. Also, mining operations have achieved consistent accuracy while daily tonnage has risen as planned.
The mill, restarted after 28 months of dry shutdown, has operated smoothly following extensive pre-commissioning efforts. A high-grade ore stockpile is growing toward the 30,000-tonne goal, providing over a month of operational flexibility.
Safety remains a top priority, with a strong culture reinforced across the workforce. Additionally, over 200 personnel have been hired, ensuring the mine is staffed for efficient operations.
This focus on operational readiness means testing equipment, systems, and processes. The company wants to ensure they are reliable from day one. By addressing potential issues during the preparation phase, WRLG cut risks associated with startup delays or inefficiencies.
Lessons From the Past
Notably, restarting Madsen brings important lessons from past operators. A key takeaway is the need to align operational strategies with the unique characteristics of narrow vein deposits in Red Lake.
West Red Lake Gold’s adherence to best practices—such as tighter drill spacing and proactive access development—demonstrates its commitment to overcoming past challenges.
Also, the company has improved infrastructure and operational readiness. This has fixed issues that previously hurt productivity at Madsen. These measures not only enhance efficiency but also position the mine for long-term success.
A New Era for Madsen
Under West Red Lake Gold Mines, Madsen Mine is entering a new era defined by strategic planning, operational excellence, and sustainability. Madsen is now equipped to succeed where others struggled by addressing past shortcomings:
- Insufficient drill spacing,
- Lack of access to development, and
- Incomplete infrastructure.
The company takes a proactive approach that helps ensure accurate resource estimates. Its investments in infrastructure and readiness further support efficient production. WRLG’s focus on sustainability and responsibility in Madsen makes it a model for modern mining in Canada.
This time around, Madsen is set to work and thrive as Canada’s newest gold mine. With production slated to begin soon, stakeholders can look forward to a bright mining future driven by innovation, efficiency, and resilience.
DISCLAIMER
New Era Publishing Inc. and/or CarbonCredits.com (“We” or “Us”) are not securities dealers or brokers, investment advisers or financial advisers, and you should not rely on the information herein as investment advice. West Red Lake Gold Mines Ltd. made a one-time payment of $30,000 to provide marketing services for a term of 1 month. None of the owners, members, directors, or employees of New Era Publishing Inc. and/or CarbonCredits.com currently hold, or have any beneficial ownership in, any shares, stocks, or options in the companies mentioned. This article is informational only and is solely for use by prospective investors in determining whether to seek additional information. This does not constitute an offer to sell or a solicitation of an offer to buy any securities. Examples that we provide of share price increases pertaining to a particular Issuer from one referenced date to another represent an arbitrarily chosen time period and are no indication whatsoever of future stock prices for that Issuer and are of no predictive value. Our stock profiles are intended to highlight certain companies for your further investigation; they are not stock recommendations or constitute an offer or sale of the referenced securities. The securities issued by the companies we profile should be considered high risk; if you do invest despite these warnings, you may lose your entire investment. Please do your own research before investing, including reading the companies’ SEDAR+ and SEC filings, press releases, and risk disclosures. It is our policy that information contained in this profile was provided by the company, extracted from SEDAR+ and SEC filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee it.
CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate”, “expect”, “estimate”, “forecast”, “planned”, and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking information in this news release and include without limitation, statements relating to the plans and timing for the potential production of mining operations at the Madsen Mine, the potential (including the amount of tonnes and grades of material from the bulk sample program) of the Madsen Mine; the benefits of test mining; any untapped growth potential in the Madsen deposit or Rowan deposit; and the Company’s future objectives and plans. Readers are cautioned not to place undue reliance on forward-looking information.
Forward-looking information involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company’s securities; fluctuations in commodity prices; timing and results of the cleanup and recovery at the Madsen Mine; and changes in the Company’s business plans. Forward-looking information is based on a number of key expectations and assumptions, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Additional information about risks and uncertainties is contained in the Company’s management’s discussion and analysis for the year ended December 31, 2024, and the Company’s annual information form for the year ended December 31, 2024, copies of which are available on SEDAR+ at www.sedarplus.ca.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
For more information on the Company, investors should review the Company’s continuous disclosure filings that are available on SEDAR+ at www.sedarplus.ca.
Please read our Full RISKS and DISCLOSURE here.
The post Why Madsen Will Work This Time: A Smarter Start for a Legendary Gold Mine appeared first on Carbon Credits.
DGB Group (Euronext: DGB) stands at a defining crossroads in its corporate journey. Where just a few years ago the company was focused on restructuring and resolving legacy challenges, it is now demonstrating real momentum: audited financial results, commercial traction in the voluntary carbon market, and a strong pipeline of international nature restoration projects. In a recent interview on RTL7–a Dutch television channel known for its business and financial programming–CEO Selwyn Duijvestijn offered a candid reflection on this progress. This article highlights the key takeaways.
Disseminated on behalf of StorEn.
Demand for home energy storage is booming, with up to 47% of US homes expected to have rooftop solar installations by 2050. But there’s one major flaw: the batteries powering those systems don’t last.
That’s why StorEn has created a home battery with the potential to last twice as long as Tesla’s Powerwall (the current market leader).
Here’s why investors need to watch this company.
How StorEn Is Solving the Home Battery Problem
Most home battery systems, including Tesla’s Powerwall, rely on lithium-ion technology. These batteries degrade quickly, pose safety risks, and create environmental waste. They typically need replacement every 5–10 years and aren’t built for long-term use. They can also burn for days when disaster strikes, releasing toxic fumes, as we saw in the recent California wildfires.
That’s why the most advanced power plants in the world have been using vanadium flow technology. It’s the same reliable, low-risk battery tech that powers major cities around the world today.
No one has been able to scale vanadium flow tech down to the residential level. But StorEn is doing it with their first-of-its-kind vanadium flow battery for homes. Instead of 10 years, it’s built to last 20. It’s also small enough to fit inside a garage, with a non-flammable and 100% recyclable design.
Why StorEn Is A Major Energy Disruptor
The residential energy storage market is expected to surpass $90 billion by 2033, and lithium-ion batteries simply aren’t sustainable enough to meet demand.
That’s why, while Tesla’s Powerwall holds 62% of the market, StorEn is a prime contender to dominate in the rise of home energy storage.
Not only can StorEn power homes for up to 20 years, but their solution also unlocks major commercial potential in the telecom and microgrid markets.
Amid this once-in-a-generation shift in energy, StorEn has all the pieces to thrive. What’s more, they have the track record to prove it.
StorEn Is Proving Themselves As We Speak
With a pipeline of $11M+ in forecasted revenue and a community of 9,000+ investors already, StorEn is on track to become the leader in long-duration home energy storage.
The company is led by pioneers in energy storage and battery chemistry, including CEO Angelo D’Anzi, a 23-year veteran in fuel cell and electrolyzer development. Angelo himself holds 18 WIPO patents in Vanadium Flow Batteries and Fuel Cells.
Now, this team has patented a vanadium flow battery compact enough to power homes—with the same durability and reliability trusted by cities and industrial plants.
And you have an opportunity to join them.
Why Now Is the Time to Invest in StorEn
As clean energy adoption grows, the need for longer-lasting, safer, and more sustainable batteries is becoming urgent.
StorEn has raised $12.5M from 9,000+ investors and is preparing for global expansion.
As lithium supply chains face pressure and investors seek genuine innovation, StorEn’s vanadium flow technology offers the long-term solution the market has been anticipating.
Become a StorEn shareholder as they redefine energy storage.
This is a paid advertisement for StorEn’s Regulation CF offering. Please read the offering circular at https://invest.storen.tech/
Disclosure: Owners, members, directors, and employees of carboncredits.com have/may have stock or option positions in any of the companies mentioned: None.
Carboncredits.com receives compensation for this publication and has a business relationship with any company whose stock(s) is/are mentioned in this article.
Additional disclosure: This communication serves the sole purpose of adding value to the research process and is for information only. Please do your own due diligence. Every investment in securities mentioned in publications of carboncredits.com involves risks that could lead to a total loss of the invested capital.
Please read our Full RISKS and DISCLOSURE here.
The post A Battery ‘2X Better’ than Tesla’s Is Reshaping the $90B Home Power Storage Market appeared first on Carbon Credits.
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