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By Meg Flippin Benzinga

Demand for silver has grown so much that some of the big banks in South Korea are suspending sales of silver bars in response. In Europe, investors are looking to get their hands on silver, including silver plated with gold or platinum – which is also helping drive the price higher. One of the major factors in silver&s rising price is surging industrial demand amidst static production growth over the past decade.

Despite rising consumption, the total global supply of silver has struggled to keep up and remained relatively stagnant, amounting to about one billion ounces a year. Much of the silver mined has been used and isn&t recoverable. The global deficit of silver reached an all-time high in 2023 at 184.3 million ounces. Furthermore, many silver producers are becoming gold producers due to fewer silver discoveries and scarce silver deposits. New Pacific Metals Corp. (AMEX: NEWP) argues that this represents a need for high-quality silver projects like those it is advancing.

New Pacific Metals Says It Is Gearing Up To Capitalize With Two Global-Scale Assets

New Pacific Metals Corp isa Vancouver-based mining company developing two quality precious metal projects in Bolivia. The company has been investing and advancing its projects and says it is confident that such efforts will pay off this year and beyond.

“With two of the world&s largest undeveloped open-pit silver projects, we have the potential to produce nearly 19 million ounces of silver annually,& says New Pacific Metals& CEO Andrew Williams. “We believe that this production scale will be essential to the anticipated increase in global demand for silver.&

Based on projected annual production from the two projects, New Pacific says its output would rival that of established mining companies over ten times their market cap. New Pacific says its projected annual silver production would be second only to Pan American Silver Corp which currently has a $9.6 billion market cap compared to New Pacific Metals& $231.6 million. As the company advances its projects toward permitting, it says it believes its valuation could see a re-rating.

While New Pacific Metals spent much of the previous years establishing the mining potential for its flagship projects – Silver Sand and Carangas – this year is all about strengthening stakeholder relationships to support the sustainable advancement of both projects. New Pacific Metals says it will be focusing on securing the permits necessary to move the projects in Bolivia toward construction.

Conservative Approach Pays

New Pacific Metals& focused and conservative approach has enabled the miner to maintain what it says is a strong financial position. At last check, the company says it has about $18 million in cash and a “modest burn rate.& The company&s 2025 budget is $8 million, giving it ample room to advance its plans at a position of financial strength, says New Pacific Metals.

“We achieved significant milestones in 2024, including updated technical studies for both projects, and remain confident that we are on the right track to unlocking our Bolivian projects and delivering two large, open-pit silver mines,& says Williams.

For investors looking for exposure to a silver developer with growth potentially on the horizon, New Pacific could be worth considering.

Click here to learn more about New Pacific Metals& stock.

Featured photo by Scottsdale Mint on Unsplash.

This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.

This content was originally published on Benzinga. Read further disclosures here.

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