A handful of countries produce most of the world’s newly mined silver. Knowing where that silver comes from helps explain how supply can change, and why news from Latin America often matters to the silver price. This guide looks at silver mine production by country, using the latest industry and government data, and explains what drives changes in each country’s output.
Global mine production in 2025
According to the Silver Institute’s World Silver Survey 2026, global silver mine production rose 3% in 2025 to 846.6 million ounces. Separately, the US Geological Survey estimated world mine production at about 26,000 metric tons in 2025. That is roughly 836 million troy ounces, close to the industry figure. The two sources use different methods, so their totals do not match exactly.
The top producers
Mexico is the world’s largest silver producer. According to Mining Visuals’ summary of the World Silver Survey 2026, Mexico mined 172.9 million ounces in 2025, roughly a fifth of global supply. However, its output fell 5%, the third annual decline in a row.
| Country | Position | 2025 trend |
|---|---|---|
| Mexico | Largest producer | Down 5%, due to operational and policy issues |
| Peru | A leading producer, closing the gap | Up 7%, helped by by-product output at copper mines |
| China | A leading producer | Among the top producers, per the 2025 survey ranking |
| Chile | Top-five producer | Up 8% |
| Bolivia | Top-five producer | Among the top producers, per the 2025 survey ranking |
| Russia | Growing producer | Rising, with a new mine ramping up |
Sources: World Silver Survey 2026, as reported by SilverTrade, Mining Visuals and Mexico Business News; Silver Institute summary of the World Silver Survey 2025. Rankings can shift from year to year.
For context, the Silver Institute’s summary of the previous year’s survey ranked Mexico first in 2024, followed by China, Peru, Bolivia and Chile.
What drives silver mine production by country
Silver mine production by country depends heavily on the type of mines in each place. In Peru and Chile, much silver comes from large copper and polymetallic mines, so copper projects can lift silver supply. In Mexico, there are more primary silver mines, but operational problems and policy changes affected output in 2025, according to the survey summary. Meanwhile, in Russia, the ramp-up of a new primary silver mine added supply.
This links back to a key feature of the market. Most silver is a by-product of other metals, so a country’s silver output often follows its copper, lead, zinc or gold mining. We explain this in our guide to by-product silver.
The United States
The US is a smaller producer. According to the USGS, US mines produced about 1,100 tons of silver in 2025, from 4 silver mines and 31 by-product operations. Alaska was the leading producing state, followed by Nevada.
Why production by country matters for the price
- Concentration risk. With a large share of supply from a few countries, disruptions there can affect global supply.
- Policy risk. Changes in mining laws, taxes or permits can shift output.
- Base-metal links. Copper and zinc projects can change silver supply regardless of silver demand.
Even so, mine supply changes slowly, so country news rarely moves the price as much as investment flows do. For the bigger picture, see our guide to silver supply and demand.
Frequently asked questions
Which country produces the most silver?
Mexico, which mined about 172.9 million ounces in 2025, roughly a fifth of global supply, according to the World Silver Survey 2026.
How much silver is mined each year?
About 846.6 million ounces in 2025, according to the World Silver Survey 2026. The USGS estimated about 26,000 metric tons.
Is Mexico’s silver production falling?
Yes. Its output fell 5% in 2025, a third consecutive annual decline, according to the survey.
How much silver does the US mine?
About 1,100 tons in 2025, according to the USGS.
Sources
- SilverTrade: The Silver Institute releases 2026 World Silver Survey (April 15, 2026)
- Mining Visuals: World Silver Survey data summary
- Mexico Business News: World Silver Survey 2026 (May 18, 2026)
- Silver Institute: Silver Supply and Demand
- USGS: Mineral Commodity Summaries 2026, Silver (February 2026)
This article is general information, not financial advice. Production figures are estimates and may be revised.
Written and reviewed by the SilverPriceCharts.com editorial team. Sources are linked above.