Silver is one of the main natural resource. It has been known to man since the pre-historic times. The process of silver extraction and conversion of it into valuable items was evident in many early civilizations. It is mainly found in different forms of its ore. However, it is mostly extracted from its silver lead ore. In ancient times, Romans have found huge reserves in American parts of Mexico, Chile and Bolivia.
Recently many silver’s mines seekers have discovered more deposits in that region. The price of it in this era is also driven by the rule of demand and supply like various other commodities in the world. In the international markets, the price of it is raised up to $14.32 per ounce. So the country’s owning great silver reservoirs are not only extracting silver but also extracting great money out of it.
LIST OF TOP TEN COUNTRIES WITH LARGEST SILVER PRODUCTION IN THE WORLD
Following are the top ten nations in the world that have great deposits of their land. It is not only about having enough reserves, but the production entirely depends on the efficient system of its mining and extraction.
Canada is the land of silver ores. It has more reserves than other countries of that region, yet it does not extract enormous amount annually. Therefore, it stands last among the top ten silver producing countries. According to the recent figures, Canada produced 647 metric tons in the year 2014. Canada has great deposits in British Columbia, but the major target of extracting metal is the poly-metallic veins that do not yield sufficient silver.
9. UNITED STATES
Since the year of 1858 United States remained the center of Silver extraction over the years. Even today number of states of US are currently extracting the significant amount from its ores including Alaska, Arizona, Colorado, Virginia, Washington and others. Alaska and Nevada are the top two states that produce the most of its amount than any other state. Just in the year 2014, the production rose to 130 MT, whereas the latest statistics revealed that US produced 1,170 MT of silver on the whole.
Polska Meidsz of Poland is the world’s top silver producing company in the world. Poland has the second largest reserves in Australia. It has produced 1200 MT of it according to the reports which are approximately as same as the number of production in the prior years. According to the survey carried out by Silver Institute of Poland, the country can increase its production by expanding the mining companies on the larger scale.
Chile has outmatched Poland regarding silver production as the mines in Chile churned out about 1200 metric tons. And in the next three years, the government has decided to increase the production by planning new strategies and extraction plans which will be much more energy efficient and cost effective too.
From the last three centuries, Bolivia has been subjected to excessive silver mining and extraction, it’s amazing to know that the country still produces sufficient amount. Its output has although remained consistent for the past few years. This country serves as a home to several mines especially the Potosi and San Cristobal mines that are declared as the third largest deposits of the world. The country produced 1300 MT in the year 2014.
Kupol gold and silver mines are famous not only in Russia but around the world for its production leading Russia to the top five in the list. It has produced 1700 MT tons. Poly-metal International is the country’s largest silver producing company. There are vast reserves across the country, but many are yet to be discovered.
Silver production in Australia has hit the mark of 1900 MT of its production taking the fourth place on the list. Australian history is rich in mining since the 1920s with the BHP Billiton silver mining operation. BHP is the largest multinational mining company running its various mining projects in Australia. Cannington mine is also operated by BHP in Australia which produces most of its amount for the country.
According to the reports by USGS Peru is described as the third biggest silver producer in the world and it happens to have largest known silvers deposits. The country has produced massive amount over the past decades and recently skyrocketed the production up to 3700 Metric tons. Antamina mine in Northern Peru is the epicenter of the mining from where most of its part are obtained.
The statistics of last 12 years has unveiled that the country’s silver production increased steadily. The country has ramped up the production in the last few years. So much that it now produces 500MT fewer tons than Mexico. The Silver Institute has played its role in the rise of the mining operation in China, other than that major part of its production remained as the by-product of different other mining projects. The total production was measured up to 4200 MT of silver according to the latest figures.
Mexico is the hometown for most silver producing and mining companies in the world. Therefore, Mexico is placed first in the line. In particular, Fresnillo is the top most silver’s mining company in the country. It has already produced 4700 MT of it, and the country is planning to increase the production to more than 65million ounces by the year 2018.
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