MEXICO: World’s Number One Silver Producer Slips In 2014
According to the INEGI, Mexico produced a record 186 million ounces (Moz) of silver in 2013, but this declined to 184 Moz in 2014. On the other hand, Peru’s silver production increased from 118 Moz in 2013 to 121 Moz in 2014. If we combine the total of these top two producers, total production only increased slightly from 304 Moz in 2013 to 305.6 Moz in 2014.
While some regions in Mexico, such as the historic Zacatecas, saw increases in silver production, the Sonora region suffered large declines.
In Mexico’s recent INEGI statistics of the mining metallurgical industry, the Zacatecas region saw a 15.5% increase (33 metric tons) of silver production in December, while the Sonora region suffered a 64% decrease (56 metric tons).