What Trump's summit failure now means for silver: Silver North Resources, Raytheon Technologies, Hecla Mining

Silver: Huge demand from the solar sector – Now, defense is following suit

Until now, silver has been considered a precious metal with significant industrial relevance. As noted by analysts cited in a recent article from Kettner Edelmetalle, the expansion of global photovoltaic capacity to 1,000 GW by 2030 could result in the solar industry consuming up to 94% of current annual silver production. In addition to its use in solar, silver plays a vital role in various sectors and remains an important asset for investors.

Above all, defense could create additional demand for silver. The precious metal is used in modern communication devices, night vision equipment, guidance systems, and drones. More and more silver experts believe that geopolitical tensions and the ongoing defense race will also disrupt the market structure for silver. The images from Alaska, where the US president applauded Vladimir Putin as he arrived and the two greeted each other warmly, showed that Europe and other countries in the Western world must become independent of the US. Investments in defense will not remain ambitious plans. They will become reality – with all the consequences that entails.

Hecla Mining as a solid silver player

At mid-year, the silver price had already climbed to USD 37 per ounce at times, representing an increase of 28% since the start of the year. Citigroup expects the silver price to reach USD 40. One of the top names in the US when it comes to investing in silver companies is Hecla Mining. Founded in 1881, the Company mines silver and the by-products lead and zinc. Hecla's core assets include the Greens Creek Mine in Alaska, considered one of the world's most productive silver mines, the Lucky Friday Mine in Idaho, and the Casa Berardi gold mine in Quebec. In 2022, the Keno Hill Mine in the Yukon was added. With projects in North America, Hecla believes it is well-positioned to create value for shareholders through continuous optimization and exploration successes. Most recently, rising margins have led to convincing quarterly figures that exceeded analysts' expectations. This also drove the share price: over a six-month period, the value rose by around 37%.

Silver North Resources: Yukon's speedboat and partner to the big players

Canadian silver explorer Silver North Resources remains an insider tip in the mining sector. While companies like Hecla Mining focus on silver production, Silver North is active in the exploration sector. The Company identifies and evaluates new deposits to determine their economic viability. Exploration companies then typically either advance projects into production on their own or sell them to major producers like Hecla Mining. Silver North's flagship project is Haldane, located in the Keno Hill district of Yukon. Just 25 km to the east, Hecla Mining operates its Keno Hill Mine. Silver North has carried out several drill campaigns at Haldane in recent years. In 2025, the drilling program delivered results including 1,088 g/t silver over a distance of 1.83 m and 423 g/t silver over 3.03 m. The discovery of the new Main Fault ore zone is considered particularly spectacular and, according to the Company, provides strong indications of further exploration potential at depth.

If the potential is confirmed, the property could, among other things, become the focus of neighboring Hecla Mining, which already has workers and infrastructure in the immediate vicinity and needs to renew its silver deposits anyway. Silver North Resources' ability to do business with the big players is also demonstrated by the Tim project, which is also located in Yukon. The property is leased to producer Coer Mining. Coer Mining intends to continue exploring the project and is also investing its own capital in the Tim property. This will prevent unnecessary dilution of Silver North Resources' share base** and create value for shareholders. As Silver North has another interesting early-stage project in the region with Veronica, the young company is likely to benefit from the situation in the silver market.

Rocket business booming at Raytheon Technologies – Silver North takes off

Investors are increasingly focusing on the promising projects of tomorrow. Companies like Raytheon Technologies, which stands for civil aviation technology and military high-tech products, are dependent on a secure supply of raw materials such as silver. Business is currently booming – Raytheon Technologies' revenue climbed 9% in the second quarter, with the missile and defense division particularly strong. This segment is precisely where silver plays a critical role in electronic systems.

The fact that smaller companies in the silver sector offer even greater leverage than established players like Hecla Mining is clearly demonstrated by the performance of Silver North over the past six months: it rose by a whopping 116%. Even many high-tech defense stocks, including Raytheon Technologies, have struggled to match that performance. Speculative investors should keep a close eye on Silver North shares and invest in line with their own risk profile. Following the failed summit between Trump and Putin, the outlook for silver and associated companies has improved even further.