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In 2023, Mexico produced more than 202 million ounces of silver and therefore, was the world's largest silver producing country. China was the second-largest silver producer, with production amounting to nearly 109 million ounces in that year. The total global production volume of silver in 2023 amounted to an estimated 26,000 metric tons, or 830.5 million ounces. 

Silver mining in history

Silver has been known to humans since ancient times. Evidence in Asia Minor suggests that silver has been separated from lead dating back as far as 6,000 years ago. The chemical element and transition metal has the highest electrical and thermal conductivity of any metal, and is also the most reflective metal that exists. In addition to its useful properties, it is coveted as a beautiful metal that has long been considered a precious metal.

Silver mining in Latin America

Silver mining in Latin American countries accounts for five of the ten leading silver mining countries in the world. This includes Mexico, Peru, Chile, Bolivia, and Argentina. As the world’s largest producer of silver, Mexico understandably is home to five out of the 10 largest silver producing mines worldwide.