Humans have been using silver for thousands of years. Several kingdoms and countries in the past have used it as currency. It’s still considered a precious metal and a store of value.
The white metal is widely used in various industries such as medical instruments, solar technology, electronics, automobile, water purification, and photography. It’s also used to make silverware, jewelry, and other decorative items. Here we take a look at the top 10 largest silver producers in the world.
Even more-so than gold, silver finds value in industries because of its ability to reflect light and resist the corrosive effects of oxygen. It’s also the metal with the highest thermal and electrical conductivity. In nature, silver is found in combined form with copper, zinc, and lead. The white metal constitutes less than 0.1% of the ore containing silver.
According to the Silver Institute’s latest World Silver Survey 2019, 855.7 million ounces of silver was mined worldwide in 2018. The top 10 largest producers mined 284.3 million ounces. Global silver production fell 2% in 2018, recording the third consecutive year of decline. India remains the largest consumer and importer of silver, accounting for 21% of the worldwide silver demand.
These are the largest silver producers in the world, according to the Silver Institute’s World Silver Survey 2019 report.
10- Southern Copper Corporation, 17.3 million ounces (Moz)
Southern Copper is a subsidiary of Grupo Mexico. It produced 17.3 million ounces of silver in 2018, up from 15.9 million ounces in 2017. Besides silver, it’s also among the world’s largest producers of copper, zinc, and molybdenum. The company has mines and smelters in Mexico and Peru.
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