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An underground silver mine in Suggental (near Freiburg im Breisgau), Baden-Württemberg, Germany. Silver mining is the extraction of silver by mining. Silver is a precious metal and holds high economic value. Because silver is often found in intimate combination with other metals, its extraction requires the use of complex technologies.
The Crown Point-Belcher bonanza was discovered in 1870. The ore body extended from the 900 to the 1,500-foot level (275 to 460 m), having a length of 775 feet (236 m) and a width of 120 feet (37 m). The ore, the precious metal value of which was 54 percent from gold and 46 percent from silver, lasted only four years. [2]: 137–138
Interest in silver mining has increased in recent years because of an increased price for the metal: the average silver price increased from $4.39 per troy ounce for the year 2001, to $13.45 per troy ounce for 2007. [2] In 2011, silver prices rose to almost $49 per troy ounce in April before dropping to around $34 per troy ounce in late June.
Silver is often found as a by-product during the retrieval of copper, lead, zinc, and gold ores. [12] Silver has long been valued as a precious metal. Silver metal is used in many bullion coins, sometimes alongside gold: [13] while it is more abundant than gold, it is much less abundant as a native metal. [14]
Silver Standard Resources is an outlier even in the beaten down silver mining sector. The company was completely out of investors' favor this year, with its stock down more than 60%. Silver prices ...
The silver deposits of the Reese River mining district were discovered in 1862. The town of Austin was established, and in 1863 became the county seat of the newly formed Lander County. By 1867, there were 11 ore-processing mills in the district. The ore deposits are veins in quartz monzonite and quartzite. [3]: 114–116
From historical records beginning in 1904, the Sunshine Mine has produced 364,893,421 ounces of silver from 12,953,045 tons of ore through 2001, when the mine was closed. From January 1, 1998, to January 1, 2004, the average reserves carried by the mine were 1.38 million tons, containing 32.20 million ounces of silver at 23.3 oz Ag/ton.
1,000 oz silver bar. A metal is deemed to be precious if it is rare. The discovery of new sources of ore or improvements in mining or refining processes may cause the value of a precious metal to diminish. The status of a "precious" metal can also be determined by high demand or market value.