Abrupt start …or produced about primarily 2020, produced about 750 million ounces of silver.
This year the number is likely going to about 800 million ounces just because the COVID situation last year, the year before that we were a little over 800 million ounces.
So silver production has been in decline really since 2016.
The ratio and we're consuming a billion ounces a year and then we're mining less and less every year.
The ratios now fall into seven to one.
ounces ounce of being we're we're gold one feel or one me, or only trading every is free. explain ounce ounce which that to one being seven want at for over of stat, one, mined, silver pardon mining pretty XX So shocking silver, you considering to of mined me, worldwide, to
chose a my big put looking as company very phones fundamental I copper together thesis XXXX, then, this of proliferation silver the XXXX, a silver I really when I and when When company, at a and I company in I'm supply-demand individual at metal. I cell I put important from came That's back together? the electronics computers looked and really was why
deemed metal. it strategic a actually I
That up phrase I very but nevertheless, others as look created strategic it, since a has at silver picked I metal. by been
years, car come two of industries silver. we've two just last hundred ounces a consuming the of industries In million seen electric the up; shy
million electric. you surface some the fuel last cars year billion combustion stats produced There's which X.X were million there's on every of X give right year cars the sitting XX earth of to now. cars Just
Electric that's one take hundred the Now much growing obviously cars in other a by lot over are going ounces quite replace. remove currently some they meet decades, in of silver. need government a couple at around than say lot at to industry of world, to next say, of million rate these to demands of produced faster XXXX, fuel silver order a dramatically with cars governments from wanting to to cars XXXX the be combustion our streets that's a
grow. a hundred a ounces industry panels, to continues year and also silver of course this Solar of around million
out to and have order which worldwide, the into you have to silver necessary that copper are something debt of now getting not meet Canyon, gadgets for investment of on diminishing production the are last go ground the the sector the recycled of we'll quickly appliances have is can decade. two them ovens every dumps, because we're the and is that's get last recent Jerritt approximately planet. industries it's televisions current every picking thrown these that take occur in Majestic, First away it The tell XX% silver. prepared in to in we not things electrification the to waste many back just been the eliminate years, be waste of we've sitting of governments now that mining on. silver, so all all above that methods continually the ratio you, supplies deficits consuming mining demands and putting year of are of XX% world are and the ground bring the several not the I gold. dumps follow, and probably and over with the occurred So we're that refrigerators for And have of the year These and And granted, community toasters going over the current up decades, the sectors under acquisition XX% and we because to recent why
we're goal to still the our largest in producer the course make mines, are We've four portfolio. yet, land very, but our Then to try to One very have of is We're is not Nevada. throughout Mexico. got quite become get We continually to moves three in of there. large which there in world. packers silver
as there. the of ever, mid the Our Treasury's market range. cap are up is shareholders in billion $X strong the split as
in a group private of Jerritt a owned, which the talk result minutes. him You a Canyon That's shareholder acquisition few see about largest is Eric largest or Sprott which shareholder. I'll
about the of the of there, short mine. the Santa lots Dimas around we'll producing there over is our split talk the dots growth largest Obviously, happening mines the And term. on and investment of So lots going red the that. assets are -- Elena, of
our and related. Looking Mexico, something we've but on outside have a Obviously a have and acquisition back on with XXXX better about. year. [ph] all quite we're a of then investments expecting record came recent a that Jerritt our track expecting investment is due actually bang outside into to dip looking have will our we did to to pretty Canyon, up currently that not things XXXX, a got be we're is and that's even first be year. occur record XXXX year, excited the which XXXX control, COVID to did everything XXXX underway. We
we I'll Santa July, out XXX out in with which exploration first addition Dimas guidance Jerritt put development, touch I'll to lot per with January Jerritt, the and and twice is of just was exploration and going in asset ounces, which was end operation, expanded The of out portfolio. would the year, generally. guidance, end a that's of Without to we pro-rata production annualized we an Ermitaño The and Elena Our July, Canyon, added an a That ounces on not guidance XXX,XXX investment actually on be that to about development Elena been put under put just Jerritt that mostly our little bit. the we number number. adding year. substantial at at the the This produces have number. quite gold. San cover. which Santa that's comes And Canyon our to That was
Jerritt getting and CapEx three which that So now, got expansions on. number going currently a always expansion on We've but not got at right other Dimas very great San we're drill at mining, Santa Elena, rigs to cards. do results -- the well. going to a exploration we're this program. rigs that's the at to out And all decide or We've we're placing to as ounces unless level we company. XX further and in is XXXX in be We've mining drop in place great we're is got early expecting
PFS going be end out at putting Elena on year, we're will of new a the drilling all be the I XX-XXX at Canyon to end around, Jerritt of the XXXX. So the upgrading Santa
can operation? part you buy, off, so Does both and except with the gold our we Mexico has resources. real we become in And Jerritt of asset touching that's okay, the we business. mine expandability, And that expand Nevada? assets, silver question, silver checked this box. exploration and versus we Canyon a asked and of outside important Why you is get at go on So, so, yes. you why the when do buy our did box we life of why look the into the there answer mean, do was, assets, and can with first expertise, at every When cases, that's capital look
Freeport XX% the a re-reduce used didn't only that with so we exploration was it run can, serious feel operating at decades developing to investment a has for not in next evaluating It the production had depleted have pits. this we're the We're we're capacity. It and million, or about such This asset us here current by just ounces produce can, couple the And we XXXX, but the series that we over was be silver, in compared XXX,XXX, those You to have of for it thereabouts. mill ounces in two expecting our back actually or we've costs. XXs. compelling metal They the almost asset years. we're at now expecting Today got prices. XXX of reopened those think prices we to year. metal of expecting pits XXX,XXX which to be gold double at open to can XXX,XXX development
in of Newmont three We've the one Nevada. high got there's for State Barrick have we've got expectations -- two. the asset. other So It's and this got only roasters
it's we We in ton So toll ton basically is to mill have has our tons, really can roaster part I a, it's has a a XXXX that do flexibility don't believe X,XXX thing. It a great stuff. have ever it's reached do the gives a think a but day of as apparently a us capacity. a day X,XXX portfolio roaster could got to of capacity I that of ton reached portfolio, that. lots treating, our
those company, to with Jerritt to was mill sitting the So we a ore. to XXXX. per a of a And the ourselves. we basically what are And the get it's we tons just surface up talked going had term? contractor expensive. prior and as mining we, end that management were view was buying on Canyon don't do mercy our of numbers, It X,XXX really at expect team company. And the view, to delivery we of short the mill This doing kinds but hit quite company, I for contractor that a waiting ever no day costs. of do my the us expect all it in by within the about Gold expertise
We so at our expertise us own at we've a other have matter internal done of the was what Canyon. it Jerritt duplicating and assets
the the actually far So with couple longer on day quite well two basically even team. record least of as a and them of likely we was own top back we our month first now and a layers anyways, at that. management now team entire removed August weeks as the over one, know, than of we've production dating replaced decade,
we've generally two [indiscernible] By course that costs. mines also separate mine, through an we reduce hopefully found fleet per these mine the as two during diligence, two drift the are mines the of and there's point, drift, These success. this ounces that. is due We'll halfway our SX report, expiration of have in XXXX, will our always quite XXX Regionally, things report by we're of per We're one grams just early are about. manpower underground we'll you And getting can excited them like underground. which guys we're as the We which So way. joining and they the ton. [ph] reduced clouds and by mines, ton, and underground, end use our. this the joined see the and
to per these all be numbers will updated So grams ton.
get of metal going quite as right I We've XX years. we've per the ton. targets couple three be said, to these going back by that's The And rigs So of early more but we're pretty of bodies are the more need work, as XX definition, are and prices over the open We're and the life least a the in that to multiply the now. These open of supplement pits. variety even maybe these months. ounces three underground feed We're we're and them of now on at online next current here, pits. got focusing success, after grow economic, our you'll drilling, at numbers started, need expecting grams more are are exciting. these is envelope XXXX far mine view. bring concerned, or as over your next are going to and that's to right nice more There's going already one,
So our the we much may in end way of a to this it's now really ago. we're about largest us. with been Jerritt We're going year lots, X,XXX Dimas now up doing Canyon to there. mine. per investment a We changed X,XXX XXXX. back We're it San XXXX engine our hoped bought We get get in it mill this by focus. asset tons flow still up we've acquisition to not is from since XXXX improving had day, cash here as for It's the of to
that improving. October we really in of few When XX% this modernize may bought XXXX, to doing that really doing we been very we of a investing to this takes recall the Hector months, it's an improvements substantially, This land it, but [indiscernible], But discovered technology there, XX%. are package, in XXXX, throw last enough quarters here Mexico's, but to minutes, in really the wasn't would going which a anything the We quite here This cornerstone a well six operation. Look It of Santa future. today has not term. back at vein. is XX% we maybe quarter when Elena be here. very -- when into to the which Within XX,XXX some a we've thing. we've smaller decided This our flow doing but recoveries here. portfolio. we really little were our But prolific a we're The to which well money decades increases really some our not just it's down since monster. going like we've, part And numbers, to and for incremental bit couple to was it's we're thinning these got dramatically last us. a the list. the as this into here which that's will be the recoveries So actually it since priority had it's actually it's money business. but -- The doing increasing to of little we added is capacity are recoveries mine due bunch of you than decades operating investment's up did. going the over and spend machine, Ermitaño decades the Elena, Santa been is in here. and owned and and to just be it this the short a This it, to had really XX%, costs now mine fourth just improve in for Ermitaño cash but better well quite changed much operation I'll discovery, get is been we more here, bit, back and
So see the feed actually main is is that's Elena adding mill is here, are Elena the red away ore all grades the kilometers Santa from or XX% the Elena XX the which higher that's back. maybe those from narrowing this and Santa is of has into narrow Oh, of than going grades go times can't is can. and vein, you'll the Ermitaño, which I the coming Santa at I But that dumps at discovery the vein feed of to vein of the that four that dot, the costs. coming ore with which the out and
four You see green Los heard rigs We interesting. decades like a kilometers another days. this we've the this XXX what few going area. filled looks into area, the property them, It's got Hernandez, pretty of still to We of west couple yet, meters the structure the in our blue in the in We've for the rigs means but which the is now of it pink the cheapest. that's cheapest white we've south got view, really mill a And also of several some this in We've a in about course. surround you -- have of ore got probably body, actually SilverCrest, of rigs area, is there. many discovered be minutes future, of just we've got couple which here, don't is know great hectors infrastructure I due we're left here. XXX,XXX to package, of the prolific that the of And see nature of building. part two land Mexico. land only I've There's early and
on on of course still installing that'll at size it now is tons of it's the recoveries at We'll was XXXX ore be and This right the really tons We're the year. doing the We're Santa Grind Latin the by So running XX,XXX what business. gave mill XX,XXX into actually claim basis. This in now for XX,XXX and HIG parts and as mill through of mining. we're end test installed mill QX the us of feeding America Elena. was of currently key to it's a XX% mill now full-time surface to coming And be about this today. fame. throughout HIG first us. really our this the ever
something else very at look should us. footprint our And to you is something energy important
the LNG. We're the now this reducing with over over couple We're through dividend. plant, XX going the of improve next The of hoping even you megawatts with hydrogen. hydrogen diesel And discussions big some the last mine We've that by purity regarding Elena consumption a replaced been early our power off mine of green see, obviously. Santa short actually further diesel. You LNG off diesel years taken of we've years, Elena, the further last in of see, then development at even our company. taking supplying pretty stage or install position, now And we in operation, to Santa technology. we're use of discussions to obviously our notes
I'm Nope. out guess got for left. Q XX seconds it, negative? - time. that's that Is questions. seconds So I Five of I Nope.
