{"id":33179,"date":"2018-04-06T07:47:52","date_gmt":"2018-04-06T12:47:52","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33179"},"modified":"2018-04-06T07:47:52","modified_gmt":"2018-04-06T12:47:52","slug":"two-mines-supply-half-of-u-s-silver-production-the-real-cost-to-produce-silver","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33179","title":{"rendered":"Two Mines Supply Half Of U.S. Silver Production &#038; The Real Cost To Produce Silver"},"content":{"rendered":"<header class=\"entry-header clearfix\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/srsroccoreport.com\/two-mines-supply-half-of-u-s-silver-production-the-real-cost-to-produce-silver\/\">Two Mines Supply Half Of U.S. Silver Production &amp; The Real Cost To Produce Silver<\/a><\/h3>\n<\/header>\n<div class=\"entry-content clearfix\">\n<p>Just two mines supply the United States with half of its silver production, and both are located in Alaska.\u00a0 It\u2019s quite amazing that Alaska now produces half of the silver for the U.S. when only 30 years ago total mine supply from the state was less than 50,000 oz per year.\u00a0 The silver produced in Alaska comes from the Greens Creek and Red Dog Mines.\u00a0 One is a primary silver mine and the other a zinc-lead base metal mine.<\/p>\n<p><strong>Even though Hecla\u2019s Greens Creek Mine is labeled as a primary silver mine, 56% of its revenues come from its gold, zinc, and lead metal sales<\/strong>.\u00a0 However, Teck Resources, that runs the Red Dog Mine doesn\u2019t even list its silver production in its financial reports.\u00a0 Because Red Dog produces one heck of a lot of zinc and lead, their silver production doesn\u2019t amount to much in the way of revenues.<\/p>\n<p>For example, the Red Dog Mine produced 542,000 metric tons (1.1 billion pounds) of zinc and 110,000 metric tons (222 million pounds) of lead, while its estimated silver production was 6.6 million oz (Moz).\u00a0 According to Teck\u2019s 2017 Annual Report, total revenues from the Red Dog Mine were $1.75 billion.\u00a0 With the estimated silver price of $17 in 2017, total revenues from 6.6 Moz of silver were $112 million, or just 6% of the total.<\/p>\n<p>In addition, Hecla\u2019s Greens Creek Mine in Alaska produced 8.4 Moz of silver this year, down from 9.2 Moz in 2016.\u00a0 As I mentioned, the Greens Creek\u00a0 Mine also generated a lot of gold, zinc, and lead, equaling $182 million of the total revenues of $326 million (including treatment costs).<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Two Mines Supply Half Of U.S. Silver Production &amp; The Real Cost To Produce Silver Just two mines supply the United States with half of its silver production, and both are located in Alaska.\u00a0 It\u2019s quite amazing that Alaska now produces half of the silver for the U.S. when only 30 years ago total mine [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2037,19706,19707,730,19644,12073,827],"class_list":["post-33179","post","type-post","status-publish","format-standard","hentry","category-economics","tag-alaska","tag-greens-creek-min","tag-red-dog-mine","tag-silver","tag-silver-production","tag-srsrocco-report","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33179"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33179\/revisions"}],"predecessor-version":[{"id":33180,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33179\/revisions\/33180"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}