Rapid growth in global solar installations is creating a new source of secondary raw materials as increasing volumes of PV modules approach end-of-life. Global installed solar PV capacity reached 2.4 TW by the end of 2025, while IRENA forecasts PV waste could increase from 0.2 million tonnes in 2021 to 4 million tonnes in 2030, nearly 50 million tonnes in 2040 and over 200 million tonnes by 2050. Recovered materials could meet around 20% of future aluminum and copper demand and 70% of silver demand for PV expansion by 2040, with recovered metals potentially worth around US$6 billion annually. Major markets including the EU, China, India and South Korea are strengthening EPR and recycling frameworks as the industry prepares for larger volumes of retired solar panels.

Zimbabwe's first lithium sulfate plant, built by China owned Prospect Lithium Zimbabwe (PLZ) at Goromonzi, became fully operational in May 2026, mines minister Polite Kambamura confirmed last week. The $400 million facility is Africa's first lithium sulfate plant. Carbonate unit nearing completion, per Kambamura; more sulfate capacity expected sector-wide ahead of the January 2027 concentrate export ban. Policy backdrop: Zimbabwe froze raw mineral exports in February 2026 ahead of the 2027 ban. President Mnangagwa reiterated the stance this week, citing zero tolerance for raw mineral exports going forward. Investment: Over $1 billion in lithium-sector investment logged since February 2026, per policy expert Tedious Ncube figure undisaggregated by project. Scope widens: 13 additional minerals (cobalt, PGMs, rare earths) join the export restriction from January 2027. Kambamura also flagged domestic battery/solar panel manufacturing as a longer-term goal, with no timeline attached. SMM View: Goromonzi's "fully operational" status (May 2026) is confirmed processing capacity log as verified, distinct from the carbonate unit (unconfirmed) and the $1bn investment figure (unverified, project-level breakdown pending).

Zimbabwe's first lithium sulfate plant, built by China-owned Prospect Lithium Zimbabwe at Goromonzi, reached full operational status in May 2026, mines minister Polite Kambamura confirmed last week. The $400 million facility is Africa's first lithium sulfate plant the first beneficiation announcement in Zimbabwe's sector to convert from construction to verified operating capacity. Carbonate unit still pre-commercial. PLZ's lithium carbonate refining facility is reported near completion but unconfirmed operational; more sulfate capacity is expected sector-wide ahead of Zimbabwe's full concentrate export ban, effective January 2027. Policy driver. Zimbabwe froze raw mineral exports in February 2026 ahead of the 2027 ban, forcing producers to build domestic processing capacity or lose export access. The restriction extends to 13 minerals beyond lithium, including cobalt, PGMs, and rare earths, from January 2027. Investment context. Over $1 billion in lithium sector investment has been logged since February 2026, per policy expert Tedious Ncube though the figure is undisaggregated by project and may blend processing and upstream mining capex. Battery manufacturing remains aspirational. Kambamura flagged domestic battery and solar panel production as a longer-term goal, with no capex, partner, or timeline attached. South Africa currently leads Africa's nascent battery-manufacturing capacity. SMM View: Goromonzi is the first verified beneficiation capacity milestone in Zimbabwe's lithium sector log as confirmed, distinct from carbonate and the $1bn aggregate unverified, project-level breakdown pending). Key watch point: whether sulfate or carbonate capacity build keeps pace with the January 2027 export cutoff or risks a supply disruption relevant to our Zimbabwe ban scenario model.

Abu Dhabi-based Kinetic7 Technologies said hydrogen produced on demand at the point of use could strengthen energy security by reducing dependence on imported fuel, large-scale storage and centralised infrastructure. Its technology uses water and electrolysis to generate hydrogen only when required and has been incorporated into portable cooking systems and the commercial HODBox unit for hospitality and catering applications. The company is also developing a residential version initially targeting off-grid households, which could be powered by solar panels, batteries or grid electricity.

July 27, 2026 After several months of correction, the silver market is once again attracting increased investor attention. Following significant price declines earlier this year, signs of stabilization have begun to emerge. The US$60 per ounce level is increasingly developing into the key technical hurdle. A sustained breakout above this level could trigger the next leg higher, while another rejection would likely point to continued volatility in the near term. Silver Benefits from Both Industrial and Investment Demand Unlike gold, silver serves a dual purpose. In addition to its role as a precious metal and store of value, it is also an essential industrial metal. Demand from the solar industry, electronics, electric vehicles, and numerous high-tech applications remains robust, contributing to a physical market that has been operating in structural deficit for several consecutive years. Industry analysts expect this supply deficit to persist throughout 2026. The broader macroeconomic backdrop also remains supportive. Geopolitical tensions in the Middle East, rising energy prices, and growing concerns about stagflation continue to enhance the appeal of precious metals. While gold is primarily viewed as a monetary safe haven, silver also benefits from its industrial applications and therefore often responds even more dynamically to changes in the global economic outlook. US$60 Remains the Key Technical Level Following several consecutive sessions of gains, silver recently traded just below—or briefly around—the US$60 per ounce level. As a result, this price area has become the market's primary technical resistance. Many market observers believe that a sustained move above US$60 would represent an important breakout, potentially opening the door to further upside. At the same time, volatility remains elevated. Temporary pullbacks toward the US$57–58 range demonstrate that profit-taking can emerge at any time, while investor sentiment continues to react quickly to movements in Treasury yields, the U.S. dollar, and geopolitical developments. Nevertheless, the short-term technical picture has improved noticeably. Several technical analysts point to strengthening momentum after silver reclaimed key moving averages during the recent recovery. Fundamentals Continue to Support the Market From a fundamental perspective, the outlook also remains constructive. The global energy transition continues to drive demand for silver in solar panels, power grids, and electronic components. At the same time, the metal is becoming increasingly important in emerging technologies such as artificial intelligence, data centers, and advanced electronics. Should inflation remain persistent while real interest rates begin to decline again over the medium term, both gold and silver are likely to benefit. However, silver enjoys an additional advantage: unlike gold, it is supported by both investment demand and industrial consumption. Conclusion The silver market is approaching an important decision point. In the short term, price action will continue to be driven by geopolitical developments, oil prices, the U.S. dollar, and interest-rate expectations. Over the medium to long term, however, the combination of strong industrial demand, an ongoing structural supply deficit, and an increasingly challenging macroeconomic environment continues to provide a supportive backdrop for silver. Whether this ultimately develops into the next major rally will largely depend on whether silver can establish itself convincingly above the US$60 level. A successful breakout would significantly improve the technical outlook and shift investors' attention toward the next major resistance zones. Source： https://goldinvest.de/en/silver-price-approaches-a-key-turning-point-will-it-break-above-ususd60

[SMM Tin Morning Brief: Demand off-season suppresses, SHFE tin night session weakens testing 410,000 support]

The Netherlands’ Ministry of Infrastructure and Water Management plans to introduce a temporary framework tightening permit rules for new solar parks near airports. The move follows a March 2025 incident in which glare from nearby solar panels forced Schiphol’s Polderbaan runway to close to landing traffic for about two hours, leading authorities to order the removal of around 78,000 panels and replacement of the remaining modules. The new framework will define how aviation stakeholders and regulators should be involved in assessing flight safety aspects of solar park designs, and will apply to Schiphol and other Dutch airports. Dutch PV association Holland Solar expressed concern, arguing that stricter rules should not be imposed on all airport-area solar projects based on a single known incident.

July 16, 2026 Silver is not behaving like a cleaner version of gold. It fell hard this week even as the Iran story worsened, and that tells you the real trade is now split between fear, rates and industrial demand. You can see the tension in the tape. The Wall Street Journal reported that silver futures fell 2.83% on July 15 to $57.11 a troy ounce, their lowest close since Dec. 4, 2025, even as the US-Iran conflict kept pressure on energy markets. That is not what a simple haven story should look like. It is what happens when a metal has two buyers in the market and several reasons to sell at once. President Trump reversed his proposed 20% Strait of Hormuz toll on July 14 and the US reimposed a naval blockade on Iranian ports, according to The Wall Street Journal. The Guardian reported the next day that Iran threatened to halt Middle East energy exports after renewed US strikes and attacks around the Strait. Oil moved higher on that risk. Gold failed to take full advantage of it. Silver did worse. That matters. If you are buying silver only because missiles are flying near a shipping chokepoint, you are buying the wrong story. The squeeze is still real The stronger case for silver sits away from the war headlines. The Financial Times, citing the World Silver Survey from Metals Focus and the Silver Institute, reported that the market is heading for a sixth straight annual deficit of roughly 46 million ounces. Solar demand is no longer climbing in a straight line, either. The same report said industrial demand is expected to decline as solar manufacturers use less silver and substitute cheaper materials, with solar demand forecast to fall 19% in 2026. Normally, that would be enough to cool the story. It hasn't. The problem is that silver's industrial demand is not just a solar panel chart anymore. Electronics, grid equipment, electric vehicles and data centers all pull on the same physical market. You do not need to dress that up. Silver conducts electricity better than any other metal, and in a world trying to move more power through more machines, that property has a price. The AI buildout keeps adding weight. AP reported this week that artificial intelligence investment by major technology companies is projected to exceed $700 billion in 2026, with Alphabet, Amazon, Meta and Microsoft spending heavily on data centers. Tom's Hardware, citing Financial Times first-quarter data, put combined 2026 capital spending by Google, Microsoft, Meta and Amazon at $725 billion, up 77% from the previous year. Those figures are not silver demand numbers by themselves. But they do tell you why the industrial floor under the metal is harder to dismiss than it was in the last cycle. Here is the blunt version: gold has the cleaner fear trade, but silver has the messier and more interesting one. It gets pulled by wars and interest rates, then pulled again by factories and server farms. That makes it more volatile. It also gives it more ways to surprise you. Price targets need some humility There is no need to pretend silver is a sure thing. It just proved the opposite. The metal fell even while Middle East risk was live because higher oil can also mean stickier inflation, higher bond yields and a stronger case for central banks to stay tight. Non-yielding metals hate that setup. Silver hates it more because speculative money tends to leave quickly when the chart breaks. Forecasts should be read with that in mind. J.P. Morgan Global Research has been bullish on silver in its published commodities work, and Kitco has covered the bank's view that prices can average far above recent levels if deficits persist and investment demand returns. That's a serious argument. But it has a ceiling: if prices run too far, solar manufacturers thrift harder, switch pastes faster, or delay purchases. The FT's reporting on falling solar demand is the warning label on every bullish silver note. So the next test is not whether silver can react to another Iran headline. Of course it can. The better test is whether the metal can hold support when the war premium fades and buyers have to justify the price with physical demand, inventories and real industrial orders. Gold is easier to understand. Silver is easier to underestimate. If you are watching the metal now, do not watch only Tehran, Hormuz, oil or the next central bank speech. Watch the deficit numbers from the Silver Institute. Watch Big Tech capital spending, and watch whether solar thrifting starts to bite harder than AI infrastructure adds demand. That is where this trade will be decided, not in one dramatic move above or below $60. Source: https://startupfortune.com/silver-is-being-pulled-two-directions-at-once-and-that-is-exactly-why-it-could-outrun-gold/

French PV developer and module manufacturer Reden has announced the closure of its 200MW solar panel assembly facility in Roquefort-sur-Soulzon, southern France. Commissioned in December 2024, the plant was intended to help the company control part of the PV value chain, but operations became financially unsustainable amid intense competition from Asian manufacturers and the lack of meaningful European industrial preference in procurement. Reden said initiatives such as the NZIA, Industrial Accelerator Act and Solar Pact have yet to deliver sufficient tangible support for PV manufacturing in Europe or France.

Amsterdam has extended its subsidy scheme for sustainable solar panel installations until the end of 2026 while tightening eligibility requirements. Launched in 2024, the scheme supports highly sustainable or lightweight panels, especially those that are PFAS-free, lead-free and have a low carbon footprint, covering 1%-10% of system costs up to EUR 100,000. A further EUR 700,000 will be available during the extension. Eligible panels must now have a carbon footprint at least 50% lower than standard panels, contain no toxic substances and carry a low risk of forced labor in the supply chain.