(Kitco News) - According to preliminary estimates, global mine silver production in 2022 increased by 4% to 26,000 tonnes. Mexico was the largest silver producing country, followed by China and Peru.
According to preliminary data released by the U.S. Geological Survey (USGS), global mine silver output was 26,000 tonnes in 2022, which is 4% higher compared to 2021 (25,000 tonnes).
USGS explained that the increase in global mine silver output in 2022 was primarily due to the higher production from mines in Chile and other countries as silver mines were still recovering from shutdowns in 2020 in response to the global COVID-19 pandemic.
Global mine silver production, tonnes. 2022* - preliminary data. Source: USGS.
Mexico was the largest silver producing country (6,300 tonnes), followed by China (3,600 tonnes) and Peru (3,100 tonnes).
The world’s largest silver producing countries, tonnes. 2022* - preliminary data. Source: USGS.
According to the report, global consumption of silver was estimated to have reached 38,000 tonnes in 2022, a new record and a 16% increase from that in 2021.
USGS said that in 2022, consumption of silver for industrial uses was estimated to have increased by 5% compared with that in 2021 owing to the installation of fifth-generation (5G) telecommunications infrastructure, increased production of PV, increased production of light duty vehicles (LDVs), and more silver used in newer LDVs.
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| The world's largest gold producing countries in 2022 - report |
