As a continuation of the detailed insight into 20 main silver producing countries, this article will shed light on countries whose mined silver volume is the highest worldwide. If you want more information on the metal’s usage, market, and prospects, read 20 Largest Silver Producing Countries In The World.
8. Russia
Silver Mine Production in 2022: 1,200 metric tons
Russia is also one of the biggest producers of silver in the world, reflected by its impressive 1,200 metric tons yield of the metal in 2022. Also, official records place the nation’s silver reserves at approximately 45,000 metric tons distributed in the Ural Mountains and other mineral-rich terrains.
7. Bolivia
Silver Mine Production in 2022: 1,300 metric tons
Bolivia recorded substantial silver extraction, accounting for 1,300 metric tons in 2022. The yield was possible because of the generous silver reserve base in the country, estimated to be approximately 22,000 metric tons. These reserves highlight the sustained potential of Bolivia’s silver mining industry, a sector that plays a pivotal role in the nation’s economy. Rich silver deposits are primarily concentrated in Potosí and other regions, often linked to tin and zinc mining activities.
6. Poland
Silver Mine Production in 2022: 1,300 metric tons
Poland also secured a place amongst the top 10 silver producing countries, owing to its mine throughput of 1,300 metric tons in 2022. Although Poland’s silver yield in 2022 was equal to Bolivia’s, the former earned a higher rank on our list because of its silver reserves. Poland’s silver reserves are said to be 65,000 metric tons (more than double Bolivia’s reserves) and show the country’s potential of mining heavier metal volumes in the future. These reserves are dispersed throughout the country and can generously add to Poland’s national GDP.
5. Australia
Silver Mine Production in 2022: 1,400 metric tons
Australia’s modern mining infrastructure makes it one of the biggest silver producing countries in the world. The mining giant yielded 1,400 metric tons of the precious metal. As explained earlier, Australia also has the 2nd highest silver reserves by country, standing at 92,000 metric tons. These reserves act as a strategic asset, given silver’s diverse applications spanning from investment and ornamentation to industrial and technological uses.
4. Chile
Silver Mine Production in 2022: 1,600 metric tons
Chile’s mine throughput of silver reached a total of 1,600 metric tons in 2022. As of 2022, Chile’s silver reserves were estimated to be around 26,000 metric tons. The magnitude of these reserves, much of which remain untapped, shows Chile’s potential for future silver yield. The capacity is also supported by the country’s strategic investment in mining technologies and favorable government policies toward mineral extraction.
3. Peru
Silver Mine Production in 2022: 3,100 metric tons
Along with having the highest silver reserves by country, Peru also ranks 3rd on the list of the largest silver producing countries. The country mined 3,100 metric tons of the precious metal in 2022 and maintained its solid footing in the mineral industry. According to the latest geoscientific data, Peru’s in-ground silver reserves amount to approximately 98,000 metric tons. Given the comprehensive mining infrastructure already in place, Peru is well-positioned to capitalize on these reserves in the coming years.
2. China
Silver Mine Production in 2022: 3,600 metric tons
China is the 2nd largest silver producing country, whose mines extracted 3,600 metric tons of silver in 2022. Moreover, China’s proven silver reserves are reported to be 71,000 metric tons, comprising both discovered deposits ready for extraction and deposits yet to be fully accessed. The enormous reserve base ensures a sustained output for China and confers a strategic advantage in the global silver industry.
1. Mexico
Silver Mine Production in 2022: 6,300 metric tons
Mexico leads the pack of biggest silver producers in the world with an impressive output of 6,300 metric tons in 2022. This figure stems from the country’s silver reserves of 37,000 metric tons that act as a foundation for the persistent lead of Mexico in the silver market.
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