Joe Mazumdar: Why the Silver Supply Problem Won’t Go Away

Silver demand continues to climb—but according to mining analyst Joe Mazumdar, the real story is on the supply side.

Speaking with Maggie Lake at the 2026 Rick Rule Symposium, Mazumdar explains why silver is one of the most difficult metals to bring to market. Because much of the world's silver is produced as a byproduct of mining for copper, zinc, and lead, higher silver prices alone aren't enough to quickly increase production.

Mazumdar breaks down why permitting remains a major hurdle, how declining ore grades and long development timelines are tightening supply, and why investors should pay close attention to the structural imbalance developing in the silver market.