Do you know the top five countries that produced the most silver in the year 2014? In the year 2014, these countries surpassed their own expectations when they produced tons of silver during a time where the demand for silver had fallen. However, one should give credit where it is due. Hence, here is the list of the top five countries that produced an overflowing amount of silver:
Mexico produced 4,700 metric tons of silver in 2014. What’s startling is that the country’s silver production decreased by 160 metric tons, but managed to remain at the top spot as the global producer of silver. Their success in the silver mining market can be due to a productive workforce, mining diligently to ensure the country does not lose its spot in the silver producing country rankings.
The country is thankful to the silver mining company called Fresnillo, as it has undertaken six different gold and silver projects throughout the country. By 2018, the company is set on mining over sixty-five million ounces of silver. Fresnillo alone did not help Mexico garner the top spot, but Goldcorp also played a vital role in its victory.
China produced 4,200 metric tons of silver and the country comes at the number two spot in the silver mining race. According to the Silver Institute, the country is the fourth biggest producer of silver. It took China twelve years to get its silver mining industry to where it is now.
With time, they began to increase the production of silver and only fell short of ranking at the top spot by 500 metric tons. Now, China is dependent on Silvercorp Metal to outrank Mexico in the year 2015.
Peru produced 3,700 metric tons of silver and having the largest silver reserves, this was no surprise. The country still has several areas where the miners have yet to venture to mine for silver. When the mining companies of Peru get a hold of these reserves, they might move ahead in the rankings, and might even become number one in the world.
Australia produced 1,900 metric tons of silver, which was far less than the amount the top three countries ranked above them accumulated in the year 2014. Even with the number four spot, the country, with an extensive history in the mining industry, is content with its rank.
The country’s rich mining history started in the 1920s with BHP Billiton, a multinational mining company. The company is the largest producer of silver in all of Australia. Even though the company has undertaken several mining projects, they are still able to mine the most silver from the Cannington mine located in Queensland.
Russia produced 1,700 metric tons of silver and for several years now, the country has remained in list of the countries that produce silver in abundance each year. The year 2014 was not any different for them, as Polymetal International in Russia did not disappoint with their output of silver.
What will the ranking be like in 2016 for the year 2015? You will just have to wait to find that out next year!