Globally, 51% Silver is used for Industrial Fabrication… The highest usage of Silver, globally, is Industrial Fabrication (51%), followed by Coins and Bars (25%), Jewellery (19%) and Silverware (5%).
With the entire spotlight usually given to Gold, Silver gets side-lined and is considered as Gold’s poorer cousin.
Gold is considered to be more valuable primarily because it exists in precious quantities when compared to Silver. While majority of the Gold goes into hoarding – like jewellery, only a fraction of it is used in industrial production.
This is where, Silver dominates Gold !!!
Silver’s industrial role is much more than that of Gold and it is for this reason that a shortage of Silver has always had higher negative implications than there would be if there was a shortage of Gold. Silver will always continue to be in demand essentially because of its industrial usage. It has the highest electrical conductivity amongst all the metals, which is why it is used as an alloyed form for electrical contacts. Satellites, lasers, high tech weaponry, robotics, telecommunications need Silver. Conductors, contracts, switches and fuses need Silver too because of its non-corroding properties or overheating. The consumption of Silver in solar panels, brazing alloys, electrical contacts, batteries used in laptops and electric cars and circuits guarantees that Silver’s industrial demand will stay strong even when there is economic slowdown.
Indeed … this white Gold glitters more than Gold..!!! Silver!!! Hindustan Zinc produces over 95% of India’s primary Silver. With a capacity to produce 500 tonnes of Silver per annum, the Company is aiming to produce 1000 tonnes of primary silver in near future which would place India firmly on the map of global silver producers.
India is a silver deficit country that imports about 8000 tonnes of silver every year and expansion of silver production by Hindustan Zinc, would certainly help India decrease its silver import bill and encourage silver-ware industries.
