Excellon Resources Inc. (TSX: EXN) (NYSE American: EXN) (FSE: E4X2) Set To Benefit from a Sustained Silver Demand Boom from the Electric Vehicle Sector

June 17, 2021 11:16:38
  • 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… Read More>> NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at https://ibn.fm/EXN About MiningNewsWire  MiningNewsWire (MNW) is a specialized communications platform focused on developments and opportunities in the global resources sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled visibility, recognition and brand awareness. MNW is where news, content and information converge. To receive SMS text alerts from MiningNewsWire, text “BigHole” to 21000 (U.S. Mobile Phones Only) For more information, please visit https://www.MiningNewsWire.com Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published: https://www.MiningNewsWire.com/Disclaimer MiningNewsWire Los Angeles, California www.MiningNewsWire.com 310.299.1717 Office Editor@MiningNewsWire.com MiningNewsWire is part of the InvestorBrandNetwork.