# Kennecott mine collapse



## Immolatus (Feb 20, 2011)

A very large copper mine in UT collapsed on Wednesday, that also produces a good chunk of the US gold/silver. And this happens right before the price hit on Friday?


> *According to Rio Tinto's VP of Marketing Vania Grandi, Kennecott produces up to 5 million ounces of silver, and 1/2 million ounces of gold annually: *
> _"*We produce about 3 (million) to 5 million ounces of silver a year and 300,000 to 500,000 ounces of gold*," said Vania Grandi, vice president of marketing for the Precious Metals Copper Group at Rio Tinto_


Various sites are reporting that this is between 10-16% of US production in silver.
This would explain the huge upswing we just saw...oh wait...


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