Global silver mine production grew last year to 787.0 Moz, primarily due to by-product output from the lead/zinc sector. Primary silver mine supply grew by 1 percent to account for 28 percent of global silver mine output. Mexico was the world’s largest silver producing country in 2012, followed by China, Peru, Australia and Russia. Primary silver mine cash costs rose to $8.88 an ounce, reflecting higher prices for labor, electricity, and maintenance charges.
Top 20 Silver Producing Countries in 2012(millions of ounces) |
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|---|---|---|---|
| 1. | Mexico | 162.2 | |
| 2. | China | 117.0 | |
| 3. | Peru | 111.3 | |
| 4. | Australia | 56.9 | |
| 5. | Russia | 45.0 | |
| 6. | Poland | 41.2 | |
| 7. | Bolivia | 39.7 | |
| 8. | Chile | 37.0 | |
| 9. | United States | 32.6 | |
| 10. | Argentina | 24.1 | |
| 11. | Canada | 21.3 | |
| 12. | Kazakhstan | 17.5 | |
| 13. | India | 12.7 | |
| 14. | Sweden | 9.8 | |
| 15. | Turkey | 7.6 | |
| 16. | Morocco | 7.4 | |
| 17. | Guatemala | 6.6 | |
| 18. | Indonesia | 4.4 | |
| 19. | Islamic Rep. of Iran | 3.2 | |
| 20. | South Africa | 2.9 | |
Top 20 Silver Producing Companies in 2012(millions of ounces) |
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|---|---|---|---|---|
| Company | Country | Output | ||
| 1. | KGHM Polska Miedź S.A.¹ | Poland | 41.0 | |
| 2. | BHP Billiton plc. | Australia | 39.0 | |
| 3. | Fresnillo plc² | Mexio | 36.9 | |
| 4. | Goldcorp Inc.³ | Canada | 30.5 | |
| 5. | Polymetal International plc.² | Russia | 26.5 | |
| 6. | Pan American Silver Corp.² | Canada | 25.1 | |
| 7. | Volcan Cia. Minera S.A.A.⁴ | Peru | 22.0 | |
| 8. | Cia. de Minas Buenaventura S.A.A.⁴ | Peru | 18.3 | |
| 9. | Coeur d’Alene Mines Corp.² | USA | 18.0 | |
| 10. | Southern Copper Corp. | USA | 13.6 | |
| 11. | Hochschild Mining plc. | Peru | 13.6 | |
| 12. | Sumitomo Corp.³ | Bolivia | 13.0 | |
| 13. | Kazakhmys plc. | Kazakhstan | 12.6 | |
| 14. | Industrias Peñoles S.A.B de C.V. | Mexico | 12.2 | |
| 15. | Xstrata Zinc⁵ | Switzerland | 11.4 | |
| 16. | Kinross Gold Corp.⁶ | Canada | 10.7 | |
| 17. | Teck Resources Ltd.³ | Canada | 10.6 | |
| 18. | Yamana Gold Inc. | Canada | 9.0 | |
| 19. | Silver Standard Resource Inc.² | Canada | 8.6 | |
| 20. | First Majestic Silver Corp.² | Mexico | 8.3 | |
| ¹ Reported metallic silver production | ||||
| ² Primary producer | ||||
| ³ Estimate | ||||
| ⁴ Includes production from minority subsidiaries | ||||
| ⁵ Reported silver in concentrate and lead bullion | ||||
| ⁶ Reported Silver Sales | ||||
World’s Leading Primary Silver Mines in 2012(millions of ounces) |
|||
|---|---|---|---|
| Rank | Mine/Country | Operating Company | Prod. |
| 1. | Cannington¹, Australia | BHP Billiton plc. | 32.23 |
| 2. | Fresnillo, Mexico | Fresnillo plc. | 26.38 |
| 3. | Dukat², Russia | Polymetal International plc. | 15.50 |
| 4. | Uchucchacua, Peru | Compañia de Minas Buenaventura S.A.A. | 11.26 |
| 5. | Pirquitas, Argentina | Silver Standard Resources Inc. | 8.62 |
| 6. | Palmarejo, Mexico | Coeur d’Alene Mines Corp. | 8.24 |
| 7. | Pallancata, Peru | Hochschild Mining plc. / International Minerals Corp. | 7.44 |
| 8. | Saucito, Mexico | Fresnillo plc. | 7.05 |
| 9. | Gümüsköy³, Turkey | Eti Gümüş A.Ş. | 6.43 |
| 10. | Greens Creek, U.S. | Hecla Mining Company | 6.39 |
| 11. | San José, Argentina | Hochschild Mining plc. / McEwen Mining Inc. | 5.95 |
| 12. | San Bartolomé, Bolivia | Coeur d’Alene Mines Corp. | 5.93 |
| 13. | Arcata, Peru | Hochschild Mining plc. | 5.53 |
| 14. | Imiter³, Morocco | Société Métallurgique d’Imiter | 5.48 |
| 15. | Alamo Dorado, Mexico | Pan American Silver Corp. | 5.40 |
| ¹ Reported payable metal in concentrate; ² Including Gotsovoye; ³ Estimate | |||
Material and statistics in this section were adapted in part from the Silver Institute’s World Silver Survey 2013 publication.
