What is silver, and why is it becoming a strategic industrial metal?

Silver is the best electrical conductor of all metals. It powers solar cells, electronics, electric vehicles, and critical electrical connections. It is also a precious metal held by investors. In 2025, the world mined about 26,000 metric tons, according to the USGS. Mexico led with 6,300, followed by Peru with 3,600 and China with 3,400. Africa matters too. Morocco's Zgounder mine, owned by Canada's Aya Gold & Silver, became Africa's largest silver mine in 2025, producing about 4.8 million ounces. The supply problem? Most silver is mined as a by-product of lead, zinc, copper, and gold. Higher silver prices cannot quickly create new silver mines. Industrial demand fell 3% to 657.4 million troy ounces in 2025, according to the Silver Institute, as solar demand weakened. Solar manufacturers are using less silver per cell. The price shock? Silver's annual average price rose 42% in 2025. The market recorded its 5th consecutive annual supply deficit. My forecast: global industrial silver demand exceeds 700 million troy ounces in 2030, despite manufacturers reducing silver use in solar cells. Electrification, AI infrastructure, and industrial technology keep silver strategically important.