Experts Club shows the change of leaders in world silver mining in 1971-2024
The Experts Club analytical center has published a video study on world silver mining by leading countries in 1971-2024, which shows the long-term restructuring of the geography of production and the growing role of Latin America and a number of Asian countries. According to the study’s data, in 2024 (data source – BGS), the largest silver producer remains Mexico – 7.43 million kg, which is the undisputed world leader in
Analytical center Experts Club has published a video study on world silver mining by leading countries in 1971-2024, which shows the long-term restructuring of the geography of production and the growing role of Latin America and a number of Asian countries.
According to the study’s data, in 2024 (data source – BGS), the largest silver producer remains Mexico – 7.43 million kg, which has been the undisputed world leader in silver mining for 15 years in a row. It is followed by China – 3.389 million kg and Peru – 3.065 million kg. The group of next producers included Russia – 1.604 million kg, Poland – 1.534 million kg, Bolivia – 1.495 million kg, Australia – 1.218 million kg, the US – 1.097 million kg, Chile – 1.049 million kg and Kazakhstan – 878 thousand kg.
The top 20 for 2024 also included Argentina (775 thousand kg), India (769 thousand kg), Canada (410 thousand kg), Sweden (372 thousand kg), Indonesia (325 thousand kg), Uzbekistan (258 thousand kg), Morocco (224 thousand kg), Papua New Guinea (137 thousand kg), Brazil (102.6 thousand kg) and Turkey (96.13 thousand kg).
The study notes that over the decades the centers of mining have shifted: some countries increased output by expanding polymetallic projects, where silver is often a by-product metal, while leadership gradually became entrenched among large producers with a stable resource base and developed processing.
The founder of Experts Club, Maksym Urakin, commenting on the results, stressed that the long series of 1971-2024 shows not just a “race” of countries but investment cycles and a structural shift in demand: “Silver is increasingly perceived as a strategic metal – both by industry and by investors, so understanding who increased mining and how over decades helps to assess future risks of shortage and price spikes.”
According to analysts, the price of silver rose by a record 128.47% in 2025, which was the best result among the major assets and exceeded the performance of gold (+66.59%) as well as of the largest crypto assets, which ended 2025 in the red altogether (BTC -5.75%, ETH -11.58%).
The video analysis is available on the Youtube channel of the Experts Club center –