Top 10 countries with highest silver production

Highest silver production

Silver is a precious metal that is employed in both industrial purposes and as a store of value. Through commodities markets, exchange-traded funds (ETFs), and mining company equities, investors and traders can purchase actual silver.

Multiple uses can be made of the metal, silver. Although it is technically a precious metal, most people in the developed world utilise a wide range of items and technology that contain it on a regular basis.

Below is a list of the top 10 nations that generate the most silver globally. Silver production is a major export for some nations: 

  1. Mexico 

Mexico is the top silver-producing nation in the world. In 2021, the nation generated 5,600 metric tonnes. Mexico’s silver output is only anticipated to grow more.

  1. China 

China generated 3,400 metric tonnes of silver in 2021. In 2016, Peru overtook the nation for second place, which it reclaimed in 2020.

  1. Peru 

From 2018 to 2019, Peru’s production of silver increased gradually, and it kept its position as the world’s second-largest producer. Due to the COVID-19 pandemic, continuous protester blockades, and some worker strikes, the South American country produced 3,000 metric tonnes of silver in 2021 as opposed to 4,160 metric tonnes in 2018.

  1. Chile 

In 2021, Chile produced 1,600 metric tonnes. Chile has estimated silver deposits of 26,000 metric tonnes and is around the size of Texas.

  1. Russia 

Russia is twice as large as the United States but only produced 1,300 metric tons in 2021. The total silver deposits of Russia are estimated at 45,000 metric tons.

  1. Poland 

In 2021, Poland produced 1,300 metric tonnes of silver. Poland occupies a special position in the silver markets despite having a tiny nation the size of New Mexico and substantial silver reserves totaling 70,000 metric tonnes.

  1. Australia 

Australia has maintained very constant levels of silver output. Despite having the third-largest silver reserves after Peru and Poland, the nation produced 1,300 metric tonnes of silver in 2021.

  1. Bolivia 

Bolivia, a country in South America, is ranked eighth on the list, along with Argentina, its neighbour. In 2021, it produced 1 000 metric tonnes of silver. There are numerous silver mines throughout the nation, particularly Cerro Rico de Potos, which is said to still have significant silver reserves.

  1. United States

The United States produced 1,000 metric tonnes of the metal in 2021, mostly from three silver-only mines and roughly 40 other base and precious metal mining operations spread out across the nation. Alaska and Nevada are the two states that produce the most silver.

  1. Argentina 

Argentina completes the top 10 with silver production expected to reach 800 metric tonnes in 2021. Along with Bolivia, Peru, Chile, and Mexico, it joins a number of other Latin American countries on the list.