TEMPO.CO, Jakarta - Understanding which countries produce the most silver is akin to revealing the driving force behind the evolution of countless industries. As one of the most in-demand metals across a wide range of technologies and consumer goods, silver has earned its reputation as an essential element powering modern innovation.
Global powerhouses like Mexico, China, and Peru are the top countries that produce the most silver, based on the data published by Visual Capitalist and Investopedia. Though updated metrics must be studied, the nations listed below have generally been giants in silver production for many years.
1. Mexico - 202.2 Moz
Mexico is the world's leading silver producer, accounting for nearly a quarter of the entire supply globally. For centuries, the nation has had a consistent mannerism towards its rich reserves and active mining sector. Armed with immense untapped potential, Mexico is poised to hold onto its crown as the unrivaled powerhouse of global silver production.
2. China - 109.3 Moz
When it comes to this Asian country, it seems like everything is made in China, given the unmistakable label on mainstream commodities. Yet, China once lost its dominance in the silver production when Peru took its place as the second-largest producer in 2016. Only after four years, China successfully climbed to its rightful spot on the list.
3. Peru - 107.1 Moz
Peru does not allow its compact size to interfere with its silver mining focus, as it came to fruition by producing 107.1 million ounces in 2023. On a global scale, South America reportedly has the largest reserves of silver, accounting for 91,000 metric tons, as per Investopedia.
4. Chile - 52.0 Moz
With an estimation of 26.000 metric tons of silver reserves, Chile emerges as one of the top global rankers. Though small in size, this formidable nation impressively achieved a remarkable feat, churning out nearly half as much silver as Peru, one of the world’s top producers.
5. Bolivia - 42.6 Moz
At 42.6 Moz, Bolivia became one of the largest silver-producing countries worldwide. Throughout its territory, the South American nation is attributed to many silver mines, with the Cerro Rico de Potosí and the San Cristobal among the biggest, both nationally and globally.
6. Poland - 42.5 Moz
According to Investopedia, Poland holds massive silver reserves of 70,000 metric tons, which further cemented its strong position on the list. Despite being the same size as New Mexico, Poland successfully retained a 42.5 million ounce silver production in 2023.
7. Russia - 39.8 Moz
It is not surprising to see a big nation like Russia among the largest silver-producing countries. Boasting silver reserves of 45,000 metric tons, the nation recently reported an outstanding output of 39.8 million ounces, solidifying its status as a major force in the global silver industry.
8. Australia - 34.4 Moz
Australia treats silver production as a serious endeavor, consistently securing its spot on the global stage. In 2023 alone, the country amassed an impressive 34.4 million ounces, backed by the world’s third-largest silver reserves, trailing only behind silver giants Peru and Poland.
9. The United States - 32.0 Moz
The United States produced 32.0 million ounces of silver in 2023, all throughout the country’s silver mines. On top of the dedicated sites, the United States occupies 40 other bases and metal mining operations to support the journey.
10. Argentina - 26.0 Moz
Having mined 26 million ounces in a year, Argentina rounds out the list of the top silver-producing countries in the world. Similar to its Latin American neighbours, like Peru, Mexico, Bolivia, and Chile, Argentina has also showcased a strong focus on the silver production industry.
Understanding which countries produce the most silver offers more than just numbers; it also reveals the strategic role these nations play in powering modern progress. For these top-producing nations, silver has long become a symbol of economic strength, industrial influence, and global relevance.
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