Skeena and Vizsla advance silver projects amid rising market deficits

The global silver market is facing a persistent supply deficit. According to the World Silver Survey 2026, a market deficit of 46.3 million ounces is expected this year, following a 40.3 million ounce deficit in 2025. This trend marks the sixth consecutive year where demand has outpaced supply, with cumulative deficits since 2021 reaching 762.1 million ounces.

In response to these market conditions, mining companies are advancing new projects. Skeena Resources Limited is moving forward with the construction of the Eskay Creek project, targeting production by 2027. Simultaneously, Vizsla Silver Corp. is preparing its Panuco project for construction following a positive feasibility study and high ore grades.

Silver demand remains driven by its role as an investment metal and its essential industrial applications in electronics, photovoltaics, and automotive technology.