Strong Silver Demand Is Good News for Franklin Mining, Bolivia S.A.s Joint Venture With COMIBOL
Franklin Mining, Inc. (Other OTC:FMNJ.PK). According to the recently published 2006 World Silver Survey, 2005′s silver fabrication demand — primarily surging industrial demand — rose to its highest level since 2001 while mine production rose only 3.42% and silver prices reach levels not seen since 1983.
Despite an almost 9% decline in photographic demand and 4% decline from the manufacture of coins and medals, a strong 11.13% growth in industrial applications produced an overall 3% gain in silver’s demand.
2005′s 10% growth in global demand from the electrical and electronics industries is expected to continue in 2006 and will likely be further influenced by expected increases in silver’s demand necessary to meet requirements of the European Union’s RoHS Directive. (RoHS stands for “the restriction of the use of certain hazardous substances and electrical and electronic equipment” and becomes effective July 1, 2006.)
Franklin Mining, Bolivia S.A.’s joint venture with Bolivia’s COMIBOL expects to initiate operations later this summer following a full review of its assigned four mineral veins. An analysis of the Cerro Rico de Potosi’s 1600 meter San Miguel vein indicates a 154,011 Kilo silver reserve; three additional reports are expected soon. All four reports will be reviewed by Behre Dolbear, mining consultants to Franklin Mining, Bolivia S.A.
Additional information on silver, its uses and demand, is available from two non-profit groups — The Silver Institute in Washington, DC (www.silverinstitute.org) and the Silver Users Association in Fairfax, VA (www.silverusersassociation.org). The World Silver Survey is published annually by GFMS Limited, London, and is available from The Silver Institute.
Franklin Mining, Bolivia S.A. (a Bolivian corporation) is a subsidiary company of Franklin Mining, Inc. COMIBOL is Bolivia’s state-owned mining company.
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Franklin Mining, Inc. Andrew Austin 702-386-5379
Source: Franklin Mining, Inc.