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Global Silver Production May Decline More Than Analysts Forecasts

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Unfortunately, it is difficult to get data for China, the second largest silver producing country in the world, but I doubt its mine supply has increased more than the declines shown in this chart. According to the World Silver Interim Report, they forecast global silver production to increase by less than 1% in 2018 due to gains in Oceania, Asia, and Africa. They did note that silver production in North American would decline by 5.4 million oz (Moz). But, that 5.4 Moz decline must account for just the United States and Canada.

 

The global mine supply from the top silver producing countries may decline more than the industry forecasts.  The leading consultancies reported that global silver production would increase moderately by 1-2% in 2018.  However, the data from several countries and large mining companies suggest that overall world silver production may decline by 2-3+%.

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