Eight years in a row as the world’s leading silver producer
Mexico held on to first place in global silver production last year for the eighth year in a row, a situation that shows no sign of changing.
Mining firms operating in Mexico extracted a total of 196.4 million ounces of silver during the year, according to the World Silver Survey 2018, produced for The Silver Institute by Thomson Reuters.
Despite global silver production dropping by 4.1% between 2016 and 2017, “the story was more upbeat in the case of Mexico,” where the volume of production rose by 5%, or 10.1 million ounces, explained the lead metals analyst at Thomson Reuters.
Johann Wiebe said the favorable year for Mexico was the result of good production at the San Julián mine, operated by Mexico’s Fresnillo, and Peñasquito, operated by the Canadian miner Goldcorp.
The president of the Silver Institute said Mexico’s leadership in silver production is a sign that the domestic industry is making efforts to maintain long-term, economically viable production.
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