Global silver production forecast to rise in 2021
Advertisement Global silver mine production is estimated to have declined by 2.4% to 849.7 million oz in 2020, the fourth consecutive annual decrease, partly owing to lockdowns and restrictions at top silver-producing countries, particularly Peru, Mexico, and China. In addition, depleting ore reserves have been a major concern for the industry in the recent years. However, global silver production is expected to increase by 8.1% in 2021 to 918.3 million oz and then exceed 1 billion oz by 2024 – a 3.2% compound annual growth rate (CAGR), says GlobalData. Mexico, Peru, and China will be the k...