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However, as mining has resumed with the gradual reopening of economies worldwide, analysts expect global silver production to increase by 8.1% in 2021 to 918.3 million ounces. Also, silver production is expected to exceed one billion ounces by 2024, growing at a 3.2% CAGR.
Given the promising industry outlook, Wall Street analysts project silver mining stocks, SSR Mining Inc. (SSRM) and Silvercorp Metals Inc . (NYSE:SVM) will rally by more than 45% in price in the near term.
