U.S. mined silver output continues to fall--USGS

[pmbug]

U.S. mines produced 80,900 kilograms (2,600,995 troy ounces) of silver in November 2013, a 14% decrease from the 94,300 kg (3,031,815 oz) produced in November 2012, the U.S. Geological Survey reported.

Monthly silver production continued on a downward trend that began in June 2013, the USGS observed.
...

http://www.mineweb.com/mineweb/content/en//mineweb-silver-news?oid=237157&sn=Detail

Is it because spot is too low for them to make a profit, or another reason?

 

[ancona]

If you can't get a fair price, then why mine it at all??

 

[11C1P]

So if production is being cut, demand is rising, both for industrial and bullion, how can it stay at around $20 for so long? Seems awfully fishy. I'll keep stacking till they figure it out. Then I'll probably stack some more anyway.

 

[Unobtanium]

SRSrocco reports that the miners' numbers do not match with the USGS numbers, in fact the miners' numbers show an increase in production rather than a decrease.

http://srsroccoreport.com/top-silve...ilver-supply-figures-forecasts-are-incorrect/

However, SRS still holds to their prediction of peak silver in the very near future, tied to the concept of peak oil.

 

[pmbug]

Well now. The numbers are a lie? Who would have thunk it? Why can't the USGS or WGC seem to put out some credible numbers?