Australia's largest silver mine will be put into production in 2023, which is expected to catch up with the good years brought about by photovoltaic heat.

Since the rise of the global photovoltaic boom, the huge demand in the solar power market has pushed the price of silver, a raw material, up sharply in recent years. Australian mining company Silver Mines Ltd has announced plans to mine its Bowdens Silver silver mine in New South Wales, Australia's largest silver mine in nearly 20 years.

Bowdens Silver Silver Mine is the largest and undeveloped silver mine known in Australia, which is rich in metal resources. At present, Silver Mines Ltd has completed a lot of previous exploration work. According to relevant research reports, the project will produce an average of 3.4 million ounces of silver per year, as well as about 6900 tons of zinc and 5100 tons of lead per year.

The company bought Bowdens from Kingsgate Consolidated Ltd in 2016 for A $25 million (US $18.6 million).

Silver Mines Ltd. McClure (Anthony McLure), managing director, said that currently, the resources explored for the project contained up to 163 million ounces of silver. According to the results of exploration, it is estimated that the total reserves may exceed 400 million ounces of silver.

He also said that silver plays an important role in the energy transformation because solar panels need to use a lot of silver.

Although silver is a by-product of many Australian mines, the proven reserves are not enough to be mined independently. Mexico is the world's largest silver miner, with an annual output of 178 million ounces, followed by Peru's 110 million ounces, according to the Silver Institute (The silver Institute). Global silver demand was just under 900 million ounces last year, with most of the buyers coming from factories.

In view of the recently announced $1 trillion infrastructure plan in the United States to support the rapid development of the photovoltaic industry, the demand for silver has increased to a certain extent.