Mexico, 'the king' of world silver mining
Mexico remained the world's largest silver extractor despite a 2 percent drop in production in 2019, the Silver Institute reported.
The country reached 190.3 million ounces, well above Peru's 135.4 million and China's 110.7 million, according to the sector's annual report. The drop in the extraction of the metal in the country was caused by a lower capacity to obtain it as well as by the social blockades that some companies experienced.
Fresnillo, the world's largest silver mining company, experienced an 11 percent drop in attributable silver production as a result of lower grades at its Fresnillo, Saucito, and San Julián mines. Other significant declines came from operations that were placed under care and maintenance during the year, such as First Majestic's El Cubo and San Martin mines and Endeavour Silver.
Fresnillo, a company of Industrias Peñoles, extracted 51.8 million ounces of silver in 2019, placing it as the company that extracts the most silver in the world, followed by KGHM Polska with 45.6 million and Glencore with 32 million.