The optimistic response from First Majestic’s CEO to Silver Doctors is good news for concerned silverbugs all over the world. Mining company press releases are beginning to trickle in, and so […]Continue reading
Silver Miners Bring Precious Metals To You
Silver mines have been around almost as long as we have documented human history. Although there are great stories of finding silver nuggets and silver miners striking it rich, silver is more commonly found in combination with various ores like galena or argentite in the presence of arsenic or sulfur. Not only is silver mentioned in the Bible, but evidence that civilizations as early as 4,000 BC were separating silver from lead has been found.
By following the latest news about silver mines, you can stay up to date on this precious metal, what silver stocks are up and coming, and what mines in the world should be given your attention on a regular basis so you can know everything you need to know about this precious metal.
The Top 10 Largest Silver Mines in the World
Mexico and Poland are the largest producers of silver today. 6 out of the 10 largest silver mines in the world today are located in these two countries.
#1. Pensaquito, Mexico
Owned by Goldcorp, this mine began production in 2010 and consists of two open pits. At one point, the estimated silver reserves of this mine were thought to be nearly 1 billion ounces.
#2. Polkowice-Sieroszowice, Poland
With an annual production rate of 14 million ounces per year, this is arguably the most reliable silver mine in the world today. Reserves are believed to stand at 775 million ounces. Silver miners have been working here since 1996
#3. San Cristobal, Bolivia
It may be located in Bolivia, but this silver mine is a wholly-owned subsidiary of a Japanese company. It is also an open-pit operation, with silver ore being transported to a processing site. Lead and zinc concentrates are also mined here.
#4. Pitarrilla, Mexcio
This is one of the youngest silver mines in the world today to make this list. It is a grassroots funded project, but also one that comes with an asterisk. A completed feasibility study has been registered, but silver mining has been very limited. It is believed that this mine has 479 million ounces of silver in reserve.
#5. Lubin, Poland
This silver mine has been operating continually since 1968. It is an underground ore extraction mine that is working a silver deposit which was discovered in 1957. Depths in the mine reach 850 meters.
#6. Rudna, Poland
This Polish mine is owned by KGHM, who also owns the Lubin mine. Copper is mined here in addition to silver and it has been operational since 1974. Their best mining year was in 2011, when 21 million ounces of silver were produced.
#7. Gumuskoy, Turkey
This open pit mine is estimated to contain at least 335 million ounces of silver and it produces about 11 million ounces per year. Silver shots and silver bars are produced locally from this mine as well.
#8. Fresnillio, Mexico
Silver miners have been working this site for nearly 500 years. It was one of the locations that sent silver back to Europe during the Colonial Era. The underground mine is complimented by a floatation plant, but it is believed this location will be mined out within the next decade.
#9. Antamina, Peru
Silver miners starting working here in 2001 in an open pit silver mine. It’s a joint venture between several commercial organizations to produce silver and lead concentrates in the Andes Mountains.
#10. Cannington, Australia
It might be last on this list, but it is often first in production. First discovered in 1990, over 30 million ounces of silver are produced here on any given year.
Who Is Silver Wheaton (SLW) and what makes SLW different from a silver miner?
Silver Wheaton is the world’s largest precious metals streaming company. In exchange for upfront payments, it has the ability to purchase at a low, fixed cost a portion of silver or gold production from a number of silver mines that are operating today. They are also heavily involved in development projects, with most of their operations centered in the Americas. This makes Silver Wheaton one of the most highly regarded silver mining stocks that is on the market today by many investors.
Without silver mines, we wouldn’t have the silver coins and other precious metal products that help collectors and investors be able to protect and grow their financial portfolios. By understanding how silver miners make their livelihood and what challenges the top 10 silver mines in the world face, a better view of the overall silver market can be obtained.
This is why staying up-to-date on all silver mining news is so important. Be sure to bookmark this page so you can always have access to the news you need for your portfolio.
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