news

The world's largest silver producers in Q1 2023 - report

Kitco Media
By Vladimir Basov
Published
Updated
Kitco News
The Leading News Source in Precious Metals

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

Editor noteGet all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here!

(Kitco News) - Kitco ranked the top 10 silver producing companies worldwide based on reported silver output in Q1 2023.

Chile’s CODELCO, one of the largest silver producers globally, was excluded from the ranking due to lack of quarterly data.

Fresnillo is the world’s top silver producer and Mexico’s largest gold producer. The company’s Q1 2023 attributable silver production of 12.3 Moz (including Silverstream) decreased compared to Q1 2022 (12.5 Moz) primarily due to the lower ore grade and decreased volume of ore processed at San Julián (DOB) and Ciénega, offset by the increase in volume of ore processed at Fresnillo and higher ore grade at San Julián Veins.

With 12.2 Moz of payable silver produced in Q1 2023, Poland’s KGHM Polska Miedz is the second largest silver producer worldwide. Production of payable silver was 10% higher compared to Q1 2022 and above the plan.

Newmont is the third largest silver producing company. The company produced 7.5 Moz of silver in Q1 2023. All of the company’s silver production came from the Peñasquito polymetallic mine in Mexico.

India’s Vedanta Resources (Hindustan Zinc) sits fourth. The company’s saleable silver production from integrated operations amounted to 5.9 Moz in Q1 2023.

Glencore is fifth with 4.5 Moz of silver produced in Q1 2023.  

The complete list is on the chart.

Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

Mdi Earth Logo

Share

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.