The BEST Guide to POLAND
Unanswered  |  Archives 
 
 
User: Guest

Home / Law  % width posts: 4

Is PLN affected by the rise of silver prices?


grubas 12 | 1,390
25 Apr 2011 #1
As you all know Poland has the biggest known reserves of Ag in the whole world (about 25% of world's silver is located in Poland!).

World Mine Production, Reserves, and Reserve Base:
Mine production Reserves8 Reserve base8
2003 2004e
United States 1,240 1,200 25,000 80,000
Australia 1,872 2,230 31,000 37,000
Canada 1,309 1,300 16,000 35,000
Chile 1,250 1,300 NA NA
China 2,500 2,600 26,000 120,000
Mexico 2,569 2,850 37,000 40,000
Peru 2,774 2,800 36,000 37,000
Poland 1,200 1,200 51,000 140,000
Other countries 4,100 4,000 50,000 80,000
World total (rounded) 18,800 19,500 270,000 570,000
Now do you think that recent spike in Ag prices (btw, tonight Ag is up 5.75 % !!! madness ) has any influence on PLN?
Cardno85 31 | 976
25 Apr 2011 #2
Now do you think that recent spike in Ag prices (btw, tonight Ag is up 5.75 % !!! madness ) has any influence on PLN?

If what you say is true (sources would be nice), especially about 25% of Silver being in Poland. Then why on earth would it not have an influence on PLN? It's a bit of a naive question for someone so informed about silver no?
gumishu 12 | 6,082
25 Apr 2011 #3
I really doubt Poland has so much silver reserves - even if so the reserves are not readily mined - they are only economically mined in connexion with copper ores (the silver is part of the cooper deposit) - the best mininig areas are already being mined and further exploitation involves mining ever deeper - there was already a point in the 90's that the copper (with the added value of silver) mining in Poland was on a brink of being economical (and silver extraction may have helped it to stay afloat)
OP grubas 12 | 1,390
25 Apr 2011 #4
Reserves Reserve base

Poland 51000 140000
World total 270000 570000

51/270=0.19
140/570=0.25
Source: U.S. Geological Survey, Mineral Commodity Summaries, January 2005


Home / Law / Is PLN affected by the rise of silver prices?
BoldItalic [quote]
 
To post as Guest, enter a temporary username or login and post as a member.