The World's Top 10 Silver Producers
The mining companies produced a total of 284.3 million ounces in 2018
The world's 10 largest silver producers accounted for slightly more than one-third of the 855.7 million ounces mined globally in 2018. Those 10 companies produced 284.3 million ounces, according to The Silver Institute's World Silver Survey 2019, which incorporated data from 2018. Beside each company name is the country where its primary operations are located, along with its silver production, in millions of ounces.
Fresnillo plc (Mexico) - 58.1
Fresnillo is the world's largest producer of silver and the largest producer of gold in Mexico. It also mines for lead and zinc.
All of Fresnillo's mines are located in Mexico. It operates three mines that are primarily for silver, three for gold, and one that is for both gold and silver. The company notes on its website that about two-thirds of global silver output is produced as a by-product of gold, lead, zinc, and copper mines.
KGHM Polska Miedź S.A. Group (Poland) - 33.9
Cia. de Minas Buenaventura S.A.A. (Peru) - 26.2
Buenaventura is Peru's largest publicly traded precious metals mining company and, in 1996, was the first Latin American mining company to list its shares on the New York Stock Exchange. The company has three silver mines in Peru and also produces gold, copper, zinc, and lead.
Polymetal International plc (Russia) - 25.3
Russia's largest silver producer and second-largest gold producer, Polymetal has headquarters in both Saint Petersburg, Russia, and Limassol, Cyprus. The company operates nine silver and gold mines in Russia and Kazakhstan, and its shares are listed on both the London Stock Exchange and the Moscow Stock Exchange.
Pan American Silver Corp. (Canada) - 24.8
Goldcorp Inc. (Canada) - 24.5
In April 2019, Vancouver-based Goldcorp was acquired by Greenwood Village, Colorado-based Newmont Mining Corp. The combined company was immediately renamed Newmont Goldcorp Corp. and subsquently renamed Newmont Corp. In addition to silver and gold, Newmont is a large producer of copper.
Hochschild Mining plc (Peru) - 19.7
Hochschild is headquartered in Lima, and its shares are listed on the London Stock Exchange. The company operates two silver and gold mines in southern Peru and one silver and gold mine in southern Argentina.
Hindustan Zinc Ltd. (India) - 19.6
In addition to its large production of silver, Hindustan Zinc is the world's second-biggest zinc-lead miner. The company is a 64.9%-owned subsidiary of Vedanta Ltd., a diversified mining and energy company. The Indian government owns a 29.54% stake in Hindustan Zinc. The company is also listed on the National Stock Exchange of India and the BSE (which was formerly known as the Bombay Stock Exchange).