A lot of silver needed for AI and data center buildout, says Pan American Silver CEO

Industry Overview - Silver is recognized as a critical metal in the US, with approximately 65% of its usage attributed to industrial applications, primarily in solar panel production and electronics [2][3] - The demand for silver is driven by both industrial use and investment interest, with investors purchasing silver similarly to gold [3][4] Supply and Demand Dynamics - There has been a structural deficit in silver supply over the past five years, with no significant increase in mining production to meet the rising demand from both industrial and investment sectors [6][11] - The majority of silver (75%) is produced as a byproduct of copper mining, and with copper prices at an all-time high, there are limited new silver supplies expected in the near future [8][9] Market Trends - The current silver price surge is influenced by a combination of industrial demand, investment interest, and potential short squeezes in the market [4][11] - The ongoing electrification trends, including advancements in technologies like self-driving cars, are expected to further increase silver demand in the coming years [10][11] Company Strategy - The company has been actively pursuing growth through exploration and acquisitions to enhance its silver production capabilities [13][14] - Continued exploration success and strategic acquisitions are part of the company's long-term growth strategy to meet the increasing demand for silver [13][14]