Mining CEO: Silver Supply Shortfall WAY Bigger Than Reported, $100+ Silver Needed

Mining CEO: Silver Supply Shortfall WAY Bigger Than Reported, $100+ Silver Needed

By Steven Orlowski, CFP, CNPR
April 25, 2025

The silver market is heading for a seismic shock — and hardly anyone is prepared for it.

According to John Carver, CEO of Apex Minerals, a prominent North American silver producer, the global silver supply deficit is "wildly underreported" and far worse than mainstream forecasts suggest. Speaking at the Vancouver Resource Investment Conference (VRIC), Carver warned that the industry is reaching a breaking point that could send silver prices soaring past $100 an ounce — possibly much higher.

“The world is burning through silver at an unsustainable rate. The supply shortfall isn’t a problem for the future — it’s already here,” Carver told a packed crowd of investors and analysts. “We need triple-digit silver just to incentivize new production.”

The Real Numbers Tell a Scarier Story

The Silver Institute recently projected a 2025 global silver deficit of 142 million ounces, largely driven by increased industrial demand and stagnant mine production. But Carver says the true number is even more dire — and likely double when you factor in unreported over-the-counter demand and sovereign stockpiling.

“China, India, and Middle Eastern buyers are scooping up physical silver through opaque channels. That metal is gone — out of circulation. It’s not coming back anytime soon,” he said.

Analysts tracking import/export discrepancies support Carver’s claim. In 2024, India alone imported over 3,000 metric tons of silver, most of it headed into long-term storage, jewelry, and industrial components. Yet official supply reports don't fully reflect this.

Why Mine Supply Isn’t Keeping Up

Even with prices near $30 per ounce, silver miners are struggling. Exploration budgets remain tight. Regulatory pressures and declining ore grades have made new projects economically unviable. Carver says the industry needs sustained silver prices above $100 to justify large-scale investments in new development.

“We’re not talking about speculation here. If we don’t see $100+ silver soon, the lights go out for many critical industries,” he said.

Among those critical sectors are solar energy, electric vehicles, and medical technology — all of which rely heavily on silver for conductivity and performance.

What $100 Silver Means for the Economy

The implications of a silver price explosion are far-reaching. Electronics and solar panel manufacturers could face significant cost pressures. Investment demand would likely surge as silver reasserts its role as a monetary metal and inflation hedge.

Carver also noted that investors are dramatically underexposed to silver relative to gold. "Gold gets the headlines, but silver is the sleeper. When it wakes up, it won't be gradual — it’ll be explosive."

The Bottom Line: Prepare Now

For retail investors and industrial consumers alike, the message is clear: the time to act is before the squeeze. Physical silver premiums are already widening, and Carver predicts that once silver breaks the psychological $50 barrier, it could double in short order.

“There’s simply not enough silver to meet the demands of the green revolution, global electrification, and investor appetite — all at the same time,” Carver concluded. “The math doesn’t lie.”