World's 2nd Largest Silver Mine Shut Down
The second largest silver mine in the world was recently shut down by the Guatemalan government, over an ongoing feud between Tahoe Resources, and the country itself. Ultimately, this isn't a huge deal for total silver supply, considering it makes up around 2% of yearly supply. With that being said, what if a similar interruption of supply were to occur, on a much larger scale? I discuss this, as well as some talk about Bitcoin, in this video. Enjoy!
Profits from the Escobal Mine came at a cost. And the cost was in the way of “serious human rights violations through its operations”, stated by several sources. Unfortunately, many investors that follow the Mainstream financial media do not understand that the Escobal Mine has been, and continues to be, a subject of human rights abuse and violations from day one.
https://business-humanrights.org/en/tahoe-resources-lawsuit-re-guatemala
I heard about this the other day. Should affect the price of think..but then again noone really knows? Everything's screwy when it comes to silver. I resteemed this
This was a great video, I wonder what all the ramifications are. I'm keeping my eyes out for more closures! I wonder if not having honest price discovery in the market has any effect on these mines?
This kind of thing will only continue as the debt based ponzi scheme falls apart.
Any decrease in supply should help the price.
Strange how they close mines, cutting supply but silver is still low.
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