Approx. 75% of global metallic silver production is a by-product of mining ores of other metals.
Silver, due to its unique physical characteristics, is used in the jewellery, electronics and electrical industries, as well as in medicine, optics, the energy industry and many others. It is also applied in newest technological solutions, among others in infrastructure, automotive industry and photovoltaics.
In total, industry utilises approx. 40% of global silver production. It is also a valued investment metal.
Usually, participants in the silver market make use of London Bullion Market Association quotations when setting the price for silver in physical transactions, after adjusting for current market conditions.
KGHM sells silver in the form of bars and grains (produced at the Głogów Copper Smelter and Refinery) and is one of the largest producers of metallic silver. Yearly, the Company produces around 1200 tonnes of this valuable metal. In 2020, KGHM produced 1352 tonnes of silver, making the Company one of the world’s leading producers of silver.
Silver in the form of bars is registered under the brand KGHM HG and has a registered certificate on the New York Mercantile Exchange (COMEX) as well as Good Delivery certificates issued by the London Bullion Market Association.
Silver is supplied in the form of grains to the photographic, jewellery and metals industries, which produce alloys containing silver. Silver in the form of bars (ingots) is mainly purchased by financial institutions.
At a Glance
A brief overview of KGHM