World’s top 10 silver producing nations leading the global silver rush
Tue Sep 23 2025
Silver is more than a shiny metal, it also serves as a key economy driver. In 2024, total world production reached approximately 25,000 metric tons, which was reportedly, slightly down from previous years. Most of this silver is mined as a byproduct of gold, copper, lead, and zinc, meaning its output is closely tied to other metals’ fortunes. Based on the data from US Geological Survey (USGS), and World Population Review, here’s a look at the top silver-producing countries in 2024.Exploring the world’s top silver-producing countries offers not just investment insights but also a fascinating journey through some of the globe’s most intriguing destinations. And with the prices of precious metals witnessing growth, it’s always advised to buy them when the prices are low. So, next time when you visit these places, try checking out the prices of silver there, and maybe buy some if that suits your budget.
Mexico remains the world’s leading silver producer, generating 6,300 metric tons in 2024, nearly twice as much as second-place China. The states of Zacatecas, Durango, and Chihuahua account for roughly 80% of national output, making them mining powerhouses.
The country’s largest mines, including Newmont’s Penasquito in Zacatecas and Fresnillo’s operations, produced 935.5 metric tons and 1,496 metric tons respectively. Silver has been central to Mexico’s economy for centuries, with trade dating back to the 1500s, and in 2024 alone, it contributed $68.24 billion pesos to the mining sector.
China produced 3,300 metric tons of silver in 2024, down slightly from 3,400 metric tons in 2023. China’s largest silver operation is Silvercorp Metals’ Ying mining district, which produced 197 metric tons (6.95 million ounces) in fiscal 2025, marking a 17% increase year-over-year thanks to expansions at the number two mill. While production has declined slightly due to depleting reserves, China remains a major player in global silver supply.
Peru, the third-largest silver producer, delivered 3,100 metric tons in 2024. Most of its silver comes as a byproduct of copper mining, linking its output closely to copper market trends. The Antamina mine, a joint venture among BHP, Glencore, Teck, and Mitsubishi, produced 11.36 million ounces of silver in 2024, contributing approximately US$1.3 billion in exports. Mining plays a vital role in Peru’s economy, accounting for 9.5% of GDP, and silver continues to be a significant export commodity despite challenges like declining ore grades and social unrest.
Bolivia produced 1,300 metric tons of silver in 2024, tying with Poland for fourth place globally. The country’s largest mine, San Cristóbal, yielded 16.8 million ounces, up 33% from the previous year, while Andean Precious Metals’ San Bartolomé operation continued to produce silver from its processing facilities. Silver exports contributed roughly US$1.2 billion to Bolivia’s economy, making the metal an important revenue source and a key driver of the country’s mining sector.
Poland also produced 1,300 metric tons of silver in 2024, slightly down from the previous year. KGHM Polska Miedz, the country’s top silver company, generates the metal primarily as a byproduct of copper mining, producing 1,341 metric tons across domestic and international operations. Poland holds the world’s third-largest silver reserves at 61,100 metric tons, ensuring a long-term strategic role in global silver production.
Chile’s silver output reached 1,200 metric tons in 2024, down from 1,260 metric tons in 2023. With around 85% of silver produced as a byproduct of copper mining, the country’s silver fortunes are tied to copper market trends. At the Chuquicamata mine, output dropped from a 2019 peak of 10.91 million ounces to 5.7 million ounces in 2024. Despite the decline, mining continues to be a key economic driver, contributing 14% of the nation’s GDP.
Russia might be known for vodka and vast landscapes, but it’s also a silver powerhouse! Russia produced 1,200 metric tons of silver in 2024, slightly down from 1,240 metric tons the previous year. The country’s largest operation, the Dukat mine, produced 7.7 million ounces and is operated by Mangazeya Plus, following the sale of Polymetal International’s assets due to sanctions. Despite challenges in metals exports, Russia remains a notable contributor to global silver supply.
Move over Hollywood, as America’s mining scene is also stealing the spotlight!The US produced 1,100 metric tons of silver in 2024, up from 1,020 metric tons in 2023. Major production comes from Hecla Mining’s Greens Creek mine in Alaska, supplemented by 31 other operations producing silver as a byproduct of gold and base metals. Silver contributed around US$960 million to the domestic economy, with most consumed locally rather than exported.
Australia produced 1,000 metric tons in 2024, slightly below the previous year. Silver is mainly a byproduct of gold and copper mining, with South32’s Cannington mine producing 12.67 million ounces, the country’s largest operation. The metal primarily serves domestic manufacturing and investment needs.
The country produced 1,000 metric tons of zinc in 2024, which was up from 985 metric tons in 2023, proving that its mines are holding a good amount of wealth. The Kazzinc Complex, a brainchild of Glencore and state-run Tau-Ken Samruk, delivered a whopping 3.34 million ounces. Mining isn’t just a side hustle here, it’s the economic heartbeat, with mineral exports raking in US$84.6 billion in 2022, making up 68% of all Kazakh exports. When it comes to digging up value, Kazakhstan really hits hard.
Source: https://timesofindia.indiatimes.com