Top 10 Silver Producing Countries in the World

Silver is in a frenzy. Prices have surged over the past year as demand accelerates across jewellery, investment, and high-tech industries. What’s different this time is that silver is no longer just a precious metal—it has become a critical industrial input at the heart of the global technology build-out.

Beyond solar panels and electric vehicles, the rapid expansion of data centers and AI infrastructure is emerging as a new demand driver. Silver’s unmatched electrical conductivity makes it essential in servers, power distribution units, cooling systems, and high-performance electronics that keep hyperscale data centers running 24/7. As governments and tech giants race to build digital infrastructure, pressure on silver supply is intensifying.

With prices climbing and supply concentrated in a handful of countries, this is the right moment to look at where the world’s silver comes from. These top silver-producing nations are shaping global availability—and increasingly, the future cost of the metal itself.

Mexico sits firmly at the top of the global silver market in 2025, producing 202.2 million ounces, or nearly 24% of the world’s total output of around 820 million ounces. Its dominance is not cyclical or accidental—it is the result of centuries of mining history, rich geology, and a mature extraction and refining ecosystem that few countries can replicate.

What sets Mexico apart is that silver is often mined as a primary metal, rather than as a secondary by-product. Flagship operations such as Fresnillo and Peñasquito continue to deliver large, consistent volumes, giving Mexico outsized influence over global supply dynamics.

China ranks second among the world’s largest silver producers, with 2025 output estimated at 109.3 million ounces, accounting for roughly 13% of global production. Unlike Mexico, China’s silver strength does not come from standalone silver mines, but from the sheer scale of its base-metal mining industry, where silver is extracted alongside lead, zinc, and copper.

What makes China especially influential is not just how much silver it produces, but how much it consumes at home. Large volumes are absorbed by domestic industries such as electronics manufacturing, solar panels, electric vehicles, and data-center infrastructure, leaving a limited supply for export markets.

China is tightening control over silver exports starting January 1, 2026. Under new export management rules issued by China’s Ministry of Commerce, silver has been elevated to a strategic resource status, and shipments to foreign markets will now require government licensing and approval rather than relying on open quotas. As part of this framework for 2026–2027, China has approved 44 companies to export silver, up slightly from the previous list, while continuing similar controls on tungsten and antimony

Peru ranked third among the world’s largest silver producers in 2025, with output of approximately 107.1 million ounces. The country’s position is underpinned by high-grade mineral deposits along the Andes, which have made Peru a long-standing powerhouse in global silver and base-metal mining.

Major operations such as Antamina and Uchucchacua continue to anchor national production, with silver typically extracted alongside zinc and lead. Mining remains a cornerstone of Peru’s export-driven economy, and despite periodic social and regulatory challenges, existing assets have kept silver output resilient and globally significant.

Chile ranked fourth globally in 2025, producing approximately 52 million ounces of silver, or about 6% of total world output. Unlike top producers where silver is mined directly, Chile’s silver supply is overwhelmingly linked to its copper industry, making production closely tied to broader trends in base-metal demand.

Most silver is recovered as a by-product of large copper operations run by miners such as Codelco, with newer projects like Salares Norte adding incremental volumes. As global electrification, energy transition, and data-center construction continue to drive copper demand, Chile’s silver output benefits indirectly, though environmental regulations and water constraints remain long-term limiting factors.

Bolivia ranked fifth among global silver producers in 2025, with output of approximately 42.6 million ounces, accounting for about 5% of worldwide production. The country’s silver industry is deeply rooted in history, dating back to the colonial era, and remains centered in long-established mining regions of the Andean highlands.

Production today is driven by a mix of state-owned and private mining operations, with silver commonly produced alongside zinc and tin. While Bolivia continues to benefit from rich geology, aging infrastructure, declining ore grades, and regulatory uncertainty have limited growth, keeping output broadly stable rather than expanding.

Poland ranked sixth in global silver production in 2025, producing approximately 42.5 million ounces, or about 5% of worldwide output. This makes Poland the largest silver producer in Europe, despite having no primary silver mines.

Nearly all of Poland’s silver is recovered as a by-product of copper mining, dominated by KGHM Polska Miedź, one of the world’s largest integrated copper and silver producers. Output remains structurally stable, closely tied to copper demand and long-life mining assets rather than silver prices alone.

Russia ranked seventh globally in 2025, producing approximately 39.8 million ounces of silver. The country’s silver production is largely derived from polymetallic and gold mining operations, particularly in Siberia and the Far East.

Major miners such as Polymetal International and Norilsk Nickel underpin output. While production levels remain steady, sanctions and geopolitical tensions have redirected much of Russia’s silver toward Asian markets, reshaping global trade flows.

Australia produced around 34.4 million ounces of silver in 2025, placing it eighth globally. Silver is not mined as a primary metal but is extracted mainly from lead-zinc and gold operations.

Key mines such as Cannington and Mount Isa in Queensland support national output. Australia’s strength lies in highly mechanized operations, strong environmental standards, and consistent production rather than rapid volume growth.

The United States ranked ninth, producing approximately 32 million ounces of silver in 2025. Most output comes from mining districts in Nevada, Alaska, and Idaho.

Silver production in the U.S. is largely a secondary output from gold and copper mining, limiting supply flexibility. Despite rising demand from solar manufacturing, electronics, and data centers, domestic silver output has remained broadly flat.

In November 2025, the United States designated silver as a critical mineral, formally recognizing its essential role in advanced technology, clean energy systems such as solar panels and electric vehicles, and national security applications. The move reflects growing concern over supply concentration and rising industrial dependence on the metal.

The designation is expected to accelerate federal support for domestic mining, enable strategic stockpiling, and potentially reshape trade policy, including the use of tariffs or incentives to reduce reliance on imports. Over time, it could significantly influence global silver supply chains as the U.S. prioritizes secure and resilient access to the metal.

Argentina completed the top ten with silver production of approximately 26 million ounces in 2025. Mining activity is concentrated in provinces such as Santa Cruz and Jujuy, where silver is often co-produced with gold.

With several new mining projects under development and recent efforts to attract foreign investment, Argentina is positioned for gradual production growth. However, output remains sensitive to policy stability and investment conditions.