| Silver
Production
Global silver mine production rose by 4 percent in 2007, with particularly solid gains from Chile, China and Mexico. Total silver mine production reached 670.6 Moz last year. Peru was the world’s biggest silver mining country in 2007, followed in the rankings by Mexico, China, Chile and Australia. Last year, silver generated at primary mines drove global totals higher, increasing by 11 percent to account for 30 percent of all silver mined. Cash costs at primary silver mines rose to a weighted average of US$1.52 per ounce, driven by a combination of labor, consumables and energy cost rises.
Top
20 Silver Producing Countries in 2007
(millions
of ounces) |
| 1. | Peru | 112.3 |
| 2. | Mexico | 99.2 |
| 3. | China | 82.4 |
| 4. | Chile | 62.0 |
| 5. | Australia | 60.4 |
| 6. | Poland | 39.5 |
| 7. | Russia | 38.0 |
| 8. | United States | 37.3 |
| 9. | Canada | 25.8 |
| 10. | Kazakhstan | 22.7 |
| 11. | Bolivia | 16.9 |
| 12. | Sweden | 9.4 |
| 13. | Argentina | 8.5 |
| 14. | Indonesia | 8.2 |
| 15. | Turkey | 7.5 |
| 16. | Morocco | 7.1 |
| 17. | Iran | 3.1 |
| 18. | India | 2.9 |
| 19. | Guatemala | 2.8 |
| 20. | Uzbekistan | 2.8 |
Top
20 Silver Producing Companies in 2007
(millions
of ounces) |
| Company | Country | Output |
| 1. | BHP Billiton | Australia | 45.7 |
| 2.. | Industrias Peñoles | Mexico | 44.5 |
| 3. | KGHM Polska Miedz | Poland | 39.1 |
| 4. | Cia. Minera Volcan¹ | Peru | 21.1 |
| 5. | Kazakhmys | Kazakhstan | 19.0 |
| 6. | Pan American Silver² | Canada | 17.1 |
| 7. | Goldcorp | Canada | 17.0 |
| 8. | Cia. de Minas Buenaventura¹ | Peru | 16.0 |
| 9. | Polymetal² | Russia | 15.9 |
| 10. | Southern Copper Corp. | USA | 15.2 |
| 11. | Hochschild Mining | Peru | 13.6 |
| 12. | Rio Tinto | UK | 13.0 |
| 13. | Teck Cominco | Canada | 12.1 |
| 14. | Codelco3 | Chile | 11.7 |
| 15. | Coeur d'Alene Mines² | USA | 11.5 |
| 16. | Yamana Gold4 | Canada | 8.6 |
| 17. | Barrick Gold5 | Canada | 8.1 |
| 18. | Boliden AB | Sweden | 7.7 |
| 19. | Xstrata Zinc6 | Switzerland | 7.5 |
| 20. | Zinifex | Australia | 7.0 |
| ¹ Includes attributable production from minority subsidiaries. |
| ² Primary silver producer. |
| ³ Includes contained silver in anode slimes. |
| 4 Pro-forma, subsequent to Meridian acquistions. |
| 5 Estimate. |
| 6 Reported sales. |
World's
Leading Primary Silver Mines in 2007
(millions of
ounces) | | Rank | Mine/Country | Operating
Company | Prod. |
| 1. | Cannington*,
Australia | BHP Billiton
| 37.47 |
| 2. | Fresnillo (Proaño), Mexico | Industrias Peñoles SA de CV | 33.52 |
| 3. | Dukat, Russia | OJSC Polymetal | 10.80 |
| 4. | Uchucchacua, Peru | Compañia de Minas Buenaventura SA | 9.87 |
| 5. | Greens Creek**, U.S. | Hecla Mining Co | 8.65 |
| 6. | Arcata, Peru | Hochschild Mining | 6.55 |
| 7. | Imiter, Morocco | Société Métallurgique d'Imiter | 5.41 |
| 8. | Rochester, U.S. | Coeur d'Alene Mines | 4.61 |
| 9. | Tayahua***, Mexico | Grupo Carso | 4.00 |
| 10. | La Colorada, Mexico | Pan American Silver Corp | 3.96 |
| 11. | Huaron, Peru | Pan American Silver Corp | 3.83 |
| 12. | Alamo Dorado, Mexico | Pan American Silver Corp | 3.81 |
| 13. | Selene, Peru | Hochschild Mining | 3.41 |
| 14. | Lunnoye, Russia | OJSC Polymetal | 3.30 |
| 15. | Lucky Friday, U.S. | Hecla Mining Co | 3.07 |
| *reported payable metal in concentrate; **historically a silver mine, Greens Creek's primary revenue stream switched to zinc in 2006. GFMS regard this as a short term anomaly and as such have maintained its classification as a primary silver mine; ***estimated. |
Material and statistics in this section were adapted in part
from the Silver Institute's World Silver Survey 2008 publication.
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