Silver Production
Global silver mine production reached a fresh record high in 2008 totaled 680.9 Moz, driven by strong production increases in Bolivia, Russia, and Peru. Peru was the world’s biggest silver mining country in 2008, followed in the rankings by Mexico, China, Australia, and Chile.
Top 20 Silver Producing Countries in 2008
(millions of ounces) |
| 1. |
Peru |
118.3 |
| 2. |
Mexico |
104.2 |
| 3. |
China |
82.8 |
| 4. |
Australia |
61.9 |
| 5. |
Chile |
44.9 |
| 6. |
Poland |
38.9 |
| 7. |
Russia |
36.1 |
| 8. |
United States |
36.0 |
| 9. |
Bolivia |
35.8 |
| 10. |
Canada |
21.5 |
| 11. |
Kazakhstan |
20.2 |
| 12. |
Turkey |
10.1 |
| 13. |
Argentina |
9.9 |
| 14. |
Sweden |
8.4 |
| 15. |
Indonesia |
8.0 |
| 16. |
Morocco |
7.8 |
| 17. |
India |
7.1 |
| 18. |
Guatemala |
3.2 |
| 19. |
Iran |
3.2 |
| 20. |
South Africa |
2.7 |
Top 20 Silver Producing Companies in 2008
(millions of ounces) |
| Company |
Country |
Output |
| 1. |
BHP Billiton |
Australia |
42.3 |
| 2. |
KGHM Polska Miedz |
Poland |
38.4 |
| 3. |
Fresnillo Plc¹ |
Mexico |
34.8 |
| 4. |
Cia. Minera Volcan² |
Peru |
23.0 |
| 5. |
Pan American Silver¹ |
Canada |
18.7 |
| 6. |
Cia. de Minas Buenaventura² |
Peru |
17.5 |
| 7. |
Polymetal¹ |
Russia |
17.2 |
| 8. |
Hochschild Mining |
Peru |
16.9 |
| 9. |
Kazakhmys |
Kazakhstan |
15.6 |
| 10. |
Southern Copper Corp. |
USA |
12.3 |
| 11. |
Coeur d'Alene Mines¹ |
USA |
12.0 |
| 12. |
Teck Resources |
Canada |
11.6 |
| 13. |
Industrias Peñoles³ |
Mexico |
11.2 |
| 14. |
OZ Minerals4 |
Australia |
10.4 |
| 15. |
Kinross Gold5 |
Canada |
10.1 |
| 16. |
Yamana Gold6 |
Canada |
9.8 |
| 17. |
Goldcorp |
Canada |
9.6 |
| 18. |
Codelco7 |
Chile |
9.3 |
| 19. |
Xstrata Zinc8 |
Switzerland |
9.0 |
| 20. |
Hecla Mining¹ |
USA |
8.7 |
| ¹ Primary silver producer. |
| ² Includes attributable production from minority subsidiaries. |
| ³ 2007 restated following Fresnillo Plc listing. |
| 4 Pro-forma, subsequent to Oxiana-Zinifex merger. |
| 5 Estimate. |
| 6 Pro-forma sales, subsequent to Meridian acquistions. |
| 7 Contained silver in anode slimes. |
| 8 Reported sales. |
World's Leading Primary Silver Mines in 2008
(millions of ounces) |
| Rank |
Mine/Country |
Operating Company |
Prod. |
| 1. |
Cannington¹, Australia |
BHP Billiton |
34.56 |
| 2. |
Fresnillo, Mexico |
Fresnillo Plc |
33.78 |
| 3. |
Dukat, Russia |
OJSC Polymetal |
12.50 |
| 4. |
Uchucchacua, Peru |
Compañia de Minas Buenaventura SA |
11.42 |
| 5. |
Arcata, Peru |
Hochschild Mining |
9.03 |
| 6. |
Greens Creek², U.S. |
Hecla Mining Co |
7.23 |
| 7. |
Imiter, Morocco |
Société Métallurgique d'Imiter |
6.25 |
| 8. |
Alamo Dorado, Mexico |
Pan American Silver Corp |
6.12 |
| 9. |
San José, Argentina |
Hochschild Mining / Minera Andes |
4.38 |
| 10. |
Pallancata, Peru |
Hochschild Mining / International Minerals Corp |
4.19 |
| 11. |
La Colorada, Mexico |
Pan American Silver Corp |
3.91 |
| 12. |
Huaron, Peru |
Pan American Silver Corp |
3.63 |
| 13. |
Lunnoye, Russia |
OJSC Polymetal |
3.40 |
| 14. |
Ying³, China |
Silvercorp Metals Inc |
3.41 |
| 15. |
Tayahua4, Mexico |
Grupo Carso |
3.29 |
| ¹ Reported payable metal in concentrate; ² 2008 estimate; ³ Reported Sales; 4 Estimate |
Material and statistics in this section were adapted in part from the Silver Institute's World Silver Survey 2009 publication.
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