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.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.  

GlobalData’s Commodity Analyzer tracks production, consumption, imports and exports of 17 key commodities across 60 countries, whilst its Mines & Projects Database tracks over 30,000 mines and projects with 200+ data fields for each, including production, operating costs, equipment and key mine-site contacts.