According to GlobalData, Russia is the world’s eighth-largest producer of silver, with output of 39,596koz in 2022, down by 5.49% on 2021. Over the five years to 2021, production from Russia decreased by a CAGR of 1.83% and is expected to rise by a CAGR of 6% 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.
Russia accounts for 4% of global production, with the other largest producers being Mexico (24%), China (14%), Peru (12%) and Chile (6%).
Polymetal International is one of the leading producers of silver in Russia. Polymetal International's output was 20,400koz in 2021, up by 9% on 2020.
For more detailed analysis of global silver mining, buy the report here.