Mexico is the largest silver-producing country in the World, with 5,600 tons of silver mined in 2021. 23% of the silver produced in the World last year was mined from Mexico. This article explores the silver mining statistics from the United States Geological Survey.
Mexico is the largest silver-producing country in the World, with 5,600 tons of silver mined in 2021. 23% of the silver produced in the World last year was mined from Mexico. China is the second-largest silver producer, with 3,400 tons mined in 2021. with 3,000 tons of gold produced in the year, Peru is the 3rd largest silver-producing country in the World.
The top 3 silver-producing countries account for 50% of total silver output worldwide
Following is the list of top Silver-producing countries in the world as estimated by the United States geological survey.(Source- US Geological Survey)
| Rank | Country | Silver Production ( Metric tons) |
|---|---|---|
| 1 | Mexico | 5,600 |
| 2 | China | 3,400 |
| 3 | Peru | 3,000 |
| 4 | Chile | 1,600 |
| 5 | Australia | 1,300 |
| 6 | Poland | 1,300 |
| 7 | Russia | 1,300 |
| 8 | Bolivia | 1,000 |
| 9 | USA | 1,000 |
| 10 | Argentina | 800 |
Contents
- Which country is the largest producer of Silver?
- How much Silver is produced in the world in a year?
- How much Silver reserves are found in the world?
- Which country has the largest Silver reserve?
- How much Silver did Mexico Produce in 2021?
- Is China the largest copper producer?
- How much silver is produced in Peru?
- Silver Mining in Chile
- Silver Mining in Australia
- Silver Mining in Poland
- Silver Mining in Russia
- Silver Mining in Bolivia
- Silver Mining in USA
- Silver Mining in Argentina
How much silver is produced in the world in a year?
23,850 tons of silver produced in the World in 2021. It is the lowest level of silver output in the last 5 years. Total silver production in the World was 27,000 tons in 2019, which reduced significantly to 24,500 in 2020.
Silver mining production reduced in 2020; because of the covid-related lockdowns. The World’s total silver production has not yet reached the pre-pandemic levels.
What is the amount of silver reserves present in the world?
US geological survey estimates that 531,002 tons of confirmed silver reserves are present worldwide. With 23,850 tons of silver produced in 2021, 5% of total silver reserves are mined in 2021.
The confirmed quantity of silver deposits changes with the discovery of new silver mines, and mining companies recognize the actual silver discovery varies from initially estimated figures. The total silver reserves estimated in the World was 571,000 in 2016.
Which country has the largest Silver reserve?
Peru has the largest amount of confirmed silver serves in the World, with 120,000 metric tons. 23% of the total silver reserves of the World are located in Peru. With 90,000 metric tons of silver reserves, Australia has the second-largest silver reserves in the World.
Poland’s Silver reserves are at 67,010, which make it the World’s 3rd largest silver rich country. Countries with the top three silver reserves account for 52% of total identified silver reserves in the World.
The below table demonstrates estimated silver reserves located in each country in 2021- (Source- US Geological Survey)
| Rank | Country | Diamond Reserve (million carats) |
|---|---|---|
| 1 | Peru | 120,000 |
| 2 | Australia | 90,000 |
| 3 | Poland | 67,000 |
| 4 | Russia | 45,000 |
| 5 | China | 41,000 |
| 6 | Mexico | 37,000 |
| 7 | Chile | 26,000 |
| 8 | USA | 26,000 |
| 9 | Bolivia | 22,000 |
| 10 | Argentina | NA |
Silver mining in Mexico
Mexico is the World’s largest silver-producing country, with 5,600 tons of silver mined in 2021. Like all other silver-producing countries, silver output from Mexican mines reduced from 6,300 tons in 2019 to 5,600 tons in the last 2 years.
Although Mexico is the World’s largest silver-producing country, Mexico only ranks 6th in the list of countries with the highest silver reserves. The current silver reserves of Mexico are at 37,000 tons. Mexico accounts for 7% percentage of total silver reserves in the World.
Silver mining in China
China is the second-largest silver-producing country, with 3,400 tons of silver mined in 2021. Silver output from China has grown significantly from 2,500 tons of mine output to 3400 tons in 2021. Currently, China produces 14% of the World’s total silver production.
China has 41,000 tons of confirmed silver reserves. Silver reserves of China account for 8 percent of the total silver reserves of the World.
Silver mining in Peru
Peru is the third-largest silver-producing country, with 3000 tons of silver mined in 2021. Silver mining in Peru is in constant decline. The mining output of silver from Peru has declined from 4,500 tons in 2017 to 3,000 tons in 2021. In 2020, silver production from Peru was at 3,400 tons.
Peru has the most significant silver reserves in the World. With 120,000 tons of silver in identified reserves, Peru accounts for 23% of the total silver reserves of the World.
Silver mining in Chile
Chile is the fourth largest silver-producing country in the World with 1, 600 tons of silver mined in 2021. Mining industry is the most significant industry in Chile. It is the largest producer of copper in the World and a significant producer of silver.
Silver mining output from Chile has increased significantly from 1,200 tons in 2017 to 1,600 tons in 2021. The silver output from Chile increased 23% between 2020 and 2021.
Chile has a confirmed silver reserve of 26,000 tons. Chile accounts for 5% of total silver reserves in the World.
Silver mining in Australia
Australia is the fifth-largest silver producer, with 1,300 tons produced in 2021. Silver output from Australia reached the highest level of 1,400 in 2019.
Australia has the second-largest amount of identified silver reserves in the World. With 90,000 tons of silver in reserves, Australia accounts for 17% of total silver reserves in the World.
Silver Mining in Poland
Poland is the largest silver-producing country in Europe. 1,300 tons of silver were produced in Poland in 2021. Mining output from Poland reached the highest level of 1,700 tons in 2019.
Poland has the third-largest silver reserves in the World. With 67,010 confirmed silver reserves, 13% of the World’s total silver deposits are found in Poland.
Silver mining in Russia
Like all other industrial materials, Russia is a significant producer of silver. The total mining output of silver from Russia in 2021 was 1,300 tons. Russia’s silver output has been fluctuating throughout the last 6 years. Silver mining output in Russia reached a high of 2,100 tons in 2019.
45,000 tons of confirmed Silver reserves are found in Russia. Russia has the fourth largest silver reserves in the World, accounting for 8% of World’s total silver reserves.
Silver Mining in Bolivia
1,000 tons of silver was produced in Bolivia in the year 2021. Silver production in Bolivia reduced from 1,200 tons mined in 2019 to 1000 tons in 2021.
Silver reserves of Bolivia are currently at 22,000 tons. Bolivia accounts for four percent of total silver reserves in the World.
Silver mining in USA
The United States of America is a significant producer of silver with 1, 000 tons mined in 2021. Silver mine output from the USA remained stable at around 1,000 tons in the last 6 years.
US geological survey estimates that the USA has 26,000 tons of confirmed silver reserves. The USA accounts for 5% of the total silver reserves in the World.
Silver mining in Argentina
Argentina is the 10th largest silver producer, with 800 tons of silver produced in 2021. Silver mining output from Argentina has declined from 1,200 tons in 2019 to 1000 tons in 2020 and 800 tons in 2021.
The top 10 silver-producing countries accounted for 90% of the total silver output in 2021.
Sources
I have studied various publicly available information from government sources and other public sources to prepare this article. Thanks to the creators of all the original data from the below sources.
USGS Commodities Summary Silver 2022–
https://moneygraphit.com/2022/06/23/which-country-is-the-largest-producer-of-copper/
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