M. Garside
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As of 2021, Peru had the world's largest silver reserves, at 120,000 metric tons.
Global silver reserves
Silver is a soft, white lustrous metal and its precious metal status has established a growing silver market. In 2020, the average price of silver was 20.55 U.S. dollars per ounce. As a precious metal, silver is often used in the industry for currency as coins, ornaments, jewelry, and silverware. It has the highest electrical and thermal conductivity of any metal, which makes it extremely useful for certain industrial applications, such as electrical contacts and conductors as well as a catalyst in chemical reactions. Silver has also been used for other applications, such as in cell phones and solar panels.
In 2021, the global mining industry produced an estimated 24,000 metric tons of silver. Only about 20% of silver is from primary silver production, mostly, it is collected as a by-product through the mining of other metals like copper, lead, zinc, and gold. The leading silver producers include Mexico, Peru, and China. As of 2021, Peru, Australia, and Poland had the largest silver reserves with 120, 90, and 67 thousand metric tons, respectively. Four of the 25 largest silver mining companies are located in Mexico. It is also home to large silver belts such as the Sierra Madre belt located within the Sierra Madre Occidental mountain range. Peru is home to some of the top silver production companies, such as Fresnillo Plc. In Australia, much of its silver is sourced from galena, a silver-bearing lead mineral, hence, Cannington Mine, the largest silver and lead mine in the world in Queensland.
Global silver reserves
Silver is a soft, white lustrous metal and its precious metal status has established a growing silver market. In 2020, the average price of silver was 20.55 U.S. dollars per ounce. As a precious metal, silver is often used in the industry for currency as coins, ornaments, jewelry, and silverware. It has the highest electrical and thermal conductivity of any metal, which makes it extremely useful for certain industrial applications, such as electrical contacts and conductors as well as a catalyst in chemical reactions. Silver has also been used for other applications, such as in cell phones and solar panels.
In 2021, the global mining industry produced an estimated 24,000 metric tons of silver. Only about 20% of silver is from primary silver production, mostly, it is collected as a by-product through the mining of other metals like copper, lead, zinc, and gold. The leading silver producers include Mexico, Peru, and China. As of 2021, Peru, Australia, and Poland had the largest silver reserves with 120, 90, and 67 thousand metric tons, respectively. Four of the 25 largest silver mining companies are located in Mexico. It is also home to large silver belts such as the Sierra Madre belt located within the Sierra Madre Occidental mountain range. Peru is home to some of the top silver production companies, such as Fresnillo Plc. In Australia, much of its silver is sourced from galena, a silver-bearing lead mineral, hence, Cannington Mine, the largest silver and lead mine in the world in Queensland.
