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<p>[QUOTE=&quot;Cloudsweeper99, post: 135982, member: 3011&quot;]Great question!&nbsp; There are some new mines in the works, but they were in the works before the price rise.&nbsp; But the answer to your question is a combination of the following:</p><p><br /></p><p>1. Most siver is produced as a byproduct of copper and zinc mining.&nbsp; There are few primary silver mines.</p><p>2. The time from obtaining funding for exploration to opening a new mine is about 8 years.</p><p>3. Environmental regulations and permitting problems delay most projects.</p><p>4. Mining costs are rising almost as quickly as bullion prices, so it still isn&#039;t a terribly profitable industry.</p><p>5. Reopening a mine is an expensive and complex engineering process that will only be undertaken once the owner is convinced that prices will stay high [e.g., $12] for years, and can find the financing.&nbsp; Watch the progress in reopening the Sunshine mine in Idaho.&nbsp; They&#039;ve been trying for years, and that&#039;s one of the good ones.&nbsp; The reason most mines are closed in the first place is probably that they were uneconomic to operate, not that they ran out of silver.&nbsp; Many mines can&#039;t produce silver at even $10 per ounce.</p><p><br /></p><p>So the talk about reopening mines all over the place is mostly that -- just talk.[/QUOTE]</p><p><br /></p>

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