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Silver (Chemical symbol Ag) is a brilliant grey-white metal that is quite soft and malleable. It is quite resistant to corrosion and does not oxidize easily, although it readily forms a surface tarnish of silver sulphide. Of all the metals, it is the best conductor of electricity. Due to these qualities (and its relative scarcity), it is often classified along with gold and platinum as a precious metal. Silver's primary use is in photographic paper and film 28% (commercial photography, medical, dental and industrial X-rays and graphic arts), jewellery and electronics 25% (connectors, contacts and batteries). The main source of silver is in lead ore, although it can also be found associated with copper, zinc and gold and produced as a by-product of base metal mining activities. Mexico, Peru and the USA are major producers of silver.
The main silver minerals are tetrahedrite (Cu,Fe,Zn,Ag12Sb4S13), freibergite (tetrahedrite with up to 30% silver), pyragyrite (Ag3SbS3), argentite (Ag2S), proustite (Ag3AsS3) and ceragyrite (AgCl). Silver associated with gold ores occurs mainly "electrum" a gold silver alloy.
Total silver fabrication demand totaled 838.2 million troy onces (Moz), a 3.5 percent reduction over 2002. The decline was primarily the result of a 9 percent drop in jewelry and silverware off take overwhelmingly due to a slump in Indian demand. In fact, if India were excluded from the global picture, total fabrication last year actually rose by 1 percent.
Global silver supply was reported at 595.6 Moz in 2003 compared to 585.9 Moz in 2002. Despite low silver prices, output from primary mines contributed 27 percent of the total, an 8 percent increase from the previous year.
Since 2003 the silver price has increased considerably and this led to a revived interest in mines across the US and Mexico that have been dormant or abandoned during the 1990s.
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