As you all know Poland has the biggest known reserves of Ag in the whole world (about 25% of world's silver is located in Poland!).
World Mine Production, Reserves, and Reserve Base:
Mine production Reserves8 Reserve base8
2003 2004e
United States 1,240 1,200 25,000 80,000
Australia 1,872 2,230 31,000 37,000
Canada 1,309 1,300 16,000 35,000
Chile 1,250 1,300 NA NA
China 2,500 2,600 26,000 120,000
Mexico 2,569 2,850 37,000 40,000
Peru 2,774 2,800 36,000 37,000
Poland 1,200 1,200 51,000 140,000
Other countries 4,100 4,000 50,000 80,000
World total (rounded) 18,800 19,500 270,000 570,000
Now do you think that recent spike in Ag prices (btw, tonight Ag is up 5.75 % !!! madness ) has any influence on PLN?
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