The Top Silver Producing Countries
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Since silver is a precious metal, it’s used for various investment purposes, including industrial and technological uses.
From jewelry to silverware, and coins, the precious metal is still in high demand today. In fact, in 2019, 27,000 tons of silver was mined around the world.
So, which countries are known for producing silver? Here are the top-ranked countries, according to the U.S. Geological Survey:
The United States
The U.S. is one of the top ten countries that produce silver. It’s ranked number ten and in 2019, it produced 980 metric tons of silver. It has three dedicated mines for the precious metal, along with forty mines for other precious metals.
Nevada and Alaska are the states where the precious metal can be found. 2011 and 2017 were the years the U.S. produced the highest amount of silver.
Argentina is ranked number nine of the Top 10 List. It ties with Bolivia for the spot. The country produced approximately 1,200 metrics of silver in 2019.
And while the mines and reserves of the country aren’t listed, making them difficult to determine, the country’s silver production has increased by 17.6 percent since last year.
Bolivia shares the ninth spot on the list, tying with its neighbor, Argentina. In 2019, it produced 1,200 metrics of the precious metal, which was more than its 2018 record of 1,190 metrics.
The country’s largest mine is located in the Cerro Rico de Potosí. However, it has several other reserves and mines around the country as well.
In fact, the mine in San Cristobal is one of the largest in the world.
China is one of the largest producers of silver in the world. In 2019, it produced over 3,000 metrics of the precious metal.
It was ranked at second place in 2015 but lost its position to Peru in 2016. Compared to the U.S., China produces double the amount of silver than the U.S. does.
Investing in the precious metal is a lucrative investment because silver offers excellent liquidity during times of economic crisis.
If you’re looking for investment opportunities in the U.S. for silver and other precious metals, Orion Metal Exchange offers everything you’re looking for.