At the Vancouver Resource Investment Conference last week, caught up with Silver Standard (SSO.T) CEO John Smith.

Silver Standard just released 2014 production results producing 8.7 million ounces of silver, 129,000 ounces of gold, and 30 million pounds of zinc.

Mr. Smith thinks the mining industry will face three main issues in 2015.

The following is a transcript of the above video.

John Smith, CEO, Silver Standard, Cambridge House transcript:

I think there are three big risks for Silver Standard and mostly for industry this year.

1. The volatility in precious metals prices. We are going to see it bottom around these prices today but it will still be volatile I would think.

2. I think costs are important we have seen the oil price come down which has helped free some of the prices metals which is the other risk I think we have for this year. Does the oil price stay down?

3. Government- tax and royalty and their behaviours.

Those are the three issues I think for us and for a lot of industry that we need to pay attention to in 2015.

We will overcome the challenges in 2015 by ensuring that we generate free cash flow at a corporate level. That is our aim to do that. That allows us to make it through the volatility and also manage the cost issues. Equally it is an opportunity time for us with a strong balance.

We need to be ready for that to take advantage of that for Silver Standards growth. 

This is not investment advice. As always please do your own due diligence. All facts are to be verified by reader.