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Author: Admin | 2025-04-28
Manufacturing. The US experienced reduced demand as consumer spending normalized. In contrast, Europe showed some increase in silver jewelry demand, driven by increased local consumption despite a drop in exports from Italy. Thailand, Indonesia, and Turkey also reported growth due to a recovery in exports and improvements in domestic sales. It’s worth noting that jewelry manufacturing is expected to decrease by 15% at the end of the fiscal year, returning to pre-pandemic levels, particularly in India, where the market is adjusting after the 2022 surge.Lastly, silverware manufacturing outpaced jewelry in terms of growth percentage, experiencing an 80% increase in demand in 2022, reaching 73.5 million ounces. This boost, as seen in the jewelry sector, was mainly driven by India, where demand more than doubled in 2022 as employment and income levels returned to pre-pandemic norms.Also Read: 10 Largest Cobalt Mining Companies and Their Mines in the WorldTop Silver Producing Countries The largest silver-producing countries in the world are Mexico, China, and Peru. In 2022, Mexico led the way with an impressive production of 6,300 metric tons, drawing from its reserves of 37,000 metric tons. Following closely, China also made a significant contribution, producing 3,600 metric tons of silver, supported by its substantial reserves estimated at 71,000 metric tons, according to the US Geological Survey. Peru, ranking third in silver production, boasts the world’s largest silver reserves, totaling 98,000 metric tons. In 2022, Peru’s commitment to sustainable mining practices resulted in a silver production of 3,100 metric tons.Let’s now talk about the top silver mining companies in the world! 15 Biggest Silver Mining Companies in the WorldOur Methodology We identified the world’s largest silver companies based on their average silver production over the past three years. This was determined using data from The Silver Institute’s World Silver Surveys of 2022 and 2023, along with the companies’ annual reports. The top silver mining companies were ranked in ascending order according to their annual silver yield.Based on the available data, here are the top silver mining companies in the world:15. First Majestic Silver Corp (TSE:FR)Average Annual Silver Production:11.6 million ounces First Majestic Silver
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