Industrial demand for Silver to average 483 mn oz from 2012 to 2014 – SILVER INSTITUTE 

“Silver helps make today’s interconnected lifestyle possible and is a vital component of virtually every automobile, cell and smartphone, computer and laptop, appliance and electronic device we use. Further, silver’s antibacterial properties are finding new uses in textiles, medical instruments and hospital equipment, providing an effective tool in combatting infection and bacteria.”

Industry’s widening use of silver is expected to average more than 483 million ounces (Moz.) from 2012 to 2014, a level 53 percent greater than the average annual industrial fabrication demand of 313.4 Moz from 1992-2001.

Speaking last week at the annual Prospectors & Developers Association of Canada convention in Toronto, Michael DiRienzo, Executive Director of the Silver Institute, said that demand for silver is broadening in many directions.

….read more HERE

Ed Note: Some older articles on Silver becoming Extinct:

Silver is a bit of an odd duck in that it’s widely considered a precious metal and as “money” by some folks, but it’s also a critical industrial metal — so unlike gold, which tends to hang around and get melted down for new jewelry and passed down through the generations, silver effectively gets used up

According to the U.S. Geological Society: “Silver will be the first element in the periodic table that will become extinct.”

According to the USGS the total amount of silver mined in history is about 46 billion ounces.  This compares to about five billion ounces of gold.  This ‘mining ratio’ is 9 to 1.  The current ‘trading ratio’ is 57 to 1.  The ratio is clearly out of whack.  In view of the fact that most of the silver consumed by industry is ‘used up’, the expectation is that the ratio could narrow dramatically in the years ahead.  Silver usage in the solar industry is expected to rise to 100 million ounces by 2015, compared to 50 million ounces in 2010 (source: Silver Institute). 

Silver will be the first element in the periodic table to become extinct (shooting price per Oz. past Gold).

“There’s very little left on the planet. The U.S. Geological Society said just a couple years ago that silver would be the first element in the periodic table that would become extinct. It’s incredibly bullish. The USGS said that would happen by 2020”