- Battery-powered electric vehicles are set to be a significant demand driver for silver in coming years
- The expected increase in annual silver demand from the electric vehicle sector over the next four years is estimated to equal 10% of 2021’s global silver production
- Excellon Resources is currently executing ongoing precious metals projects in Mexico, Idaho and Germany
- The company recently revealed that its Mexican operations resulted in a 37% YoY increase in silver production as of the fourth quarter of 2020
Fifty grams is slightly more than the weight of an average golf ball, yet it also represents the estimated silver content contained within a battery electric vehicle (“BEV”) (
https://ibn.fm/IzGx9). Silver has historically enjoyed widespread usage within the automotive sector, a reflection of its superior electrical conductivity properties, excellent oxide resistance and durability under harsh operating environments. With electric vehicles rapidly rising as a proportion of global automotive sales, the sector is transforming into a powerful demand center for silver, with The Silver Institute forecasting that the automotive industry will absorb nearly 90 million ounces of silver annually by 2025, a significant increase from this year’s anticipated demand of 61 million ounces (1,900t). To put that figure into context, the expected annual demand from the electric vehicle sector is expected to increase over the next four years to over 10 percent of annual global silver production, based on 2021 projections (
https://ibn.fm/ZuQCf). The surge in demand should be particularly advantageous for companies such as
Excellon Resources (TSX: EXN) (NYSE American: EXN) (FSE: E4X2), a silver and base metals producer with precious metal projects in Mexico, Idaho and Germany.
Silver’s unique properties make it difficult to replace across a wide and growing array of automotive applications; furthermore, and unlike platinum group metals, the use of silver is not concentrated within a single automotive component like a catalytic converter. Rather, silver components can be found across a myriad of vehicular applications, including reversing cameras, automotive lenses, and fuel management systems, making the precious metal relatively harder to…
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NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at
https://ibn.fm/EXN
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