Silver is one of the world’s most precious metals, holding an important position as a tradeable commodity and an essential part of many industrial processes and necessary technologies such as the next-generation photovoltaics helping power the transition to clean energy. So, for this graphic, Visual Capitalist's Alan Kennedy used data from the Silver Institute’s World Silver Survey 2024 to rank the top silver-producing companies of 2023.
Silver Industry Trends Global production of silver dropped by 1% between 2022 and 2023, mainly driven by industry events that disrupted production, impacting several key silver-producing nations. For example, between Q2 and Q3 of 2023, industrial action saw the suspension of the Newmont Peñasquito mine, and Argentina, as a whole, produced a lower grade of silver than expected in 2023.