Dec. 8 (Bloomberg) --Coeur d’Alene Mines Corp., the largest U.S. silver producer, is “always looking for opportunities” to acquire smaller businesses as market conditions remain “favorable” for prices, Chief Executive Officer Dennis Wheeler said in an interview on Bloomberg Television.

“The silver supply is limited,” Wheeler said today in a separate interview in New York. “There are not a significant number of new mines coming into existence or new deposits being found. Meanwhile, demand across all areas is growing.”

Silver has jumped 67 percent this year, reaching a 30-year high of $30.75 an ounce yesterday. Futures for delivery in March dropped 5.1 percent to $28.252 today on the Comex in New York.

Industrial use of the metal will increase because of an extension of U.S. tax cuts and government stimulus packages, Wheeler said. “The jewelry sector will be revived around the globe.”

“The investor will continue to add to demand” because of “the overall anxiety about the direction of the economy,” Wheeler said. “People have not flinched at $30, and they have good reasons not to. I’m comfortable with the current price levels.”

Silver held through four exchange-traded-product providers climbed to the highest amount since at least February on concern government plans to pump money into the global economy to support a recovery may devalue currencies.

Holdings jumped 0.9 percent to 15,009.54 metric tons yesterday, exceeding the 15,000-ton mark for the first time, data compiled by Bloomberg show.

The Coeur d’Alene, Idaho-based company has gained 41 percent this year. The shares fell 70 cents, or 2.7 percent, to $25.39 at 2:21 p.m. on the New York Stock Exchange.