Where the silver comes from
Of course, the quality of management or the financial situation of a company also plays a role. But also, the location of the projects. The world leader in silver production in 2019 was once again Mexico. According to the US Geological Survey, the country produced 6,300 tons of silver last year. Despite strikes and more difficult conditions due to Corona, the mining industry is expected to grow by 3.3 per cent annually.
The world's largest silver company Fresnillo also operates in Mexico. This company is the partner of MAG Silver. The joint venture partners are currently developing the Juanicipio silver project, in which MAG Silver has a 44 percent stake. The project's location in the Fresnillo Silver trend is excellent.
In second place among the silver countries is Peru with a mine production of 3,800 tons of silver (in 2019). Peru also has the largest known silver reserves, namely 120,000 tons. So, Peru could perhaps one day push Mexico from the throne. Most of the silver comes from the Antamina mine, which is primarily a copper mine where silver is a by-product.
Hannan Metals also has a copper-silver mine in Peru, the San Martin property. This is 100 per cent owned by the company, which has many years of experience. This new project is located along the foothills of the Eastern Andes in Peru and neighbouring countries and includes a high-grade copper-silver system. Another copper-silver project in Ireland is part of Hannan Metals' portfolio.
In the ranking of the largest silver producing countries follow China, Russia, Poland, Australia, Chile, Bolivia, Argentina and the USA.
Current company information and press releases from MAG Silver (https://www.resource-capital.ch/en/companies/mag-silver-corp/) and Hannan Metals (https://www.resource-capital.ch/en/companies/hannan-metals-ltd/).
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