According to GlobalData, Mexico is the world’s largest producer of silver, with output of 216,078koz in 2022, up by 0.12% on 2021. Over the five years to 2021, production from Mexico increased by a CAGR of 1% and is expected to drop by a CAGR of 0.63% between 2022 and 2026. GlobalData uses proprietary data and analytics to provide a complete picture of this market in its Global Silver Mining to 2026 report. Buy the report here.
Mexico accounts for 24% of global production, with the other largest producers being China (14%), Peru (12%), Chile (6%) and Australia (5%).
Leading producers of silver in Mexico are Industrias Penoles, First Majestic Silver, Pan American Silver, Grupo Mexico, Coeur Mining and Newmont. Industrias Penoles's output was 64,441koz in 2021, up by 3% on 2020. First Majestic Silver produced 12,843koz, an increase of 11%, and output from Pan American Silver was 10,351koz, an increase of 11% on the previous year.
For more detailed analysis of global silver mining, buy the report here.