Mine Production
China is the world’s second-largest silver mine producer. In 2024, global mine production totaled approximately 820 million ounces (about 25,500 metric tons). China accounted for roughly 13% of this (around 3,300–3,500 metric tons or 106–112 million ounces), trailing Mexico (leading with 24–25%). Other top producers include Peru (13%), Bolivia, and Chile. The Silver Institute’s World Silver Survey 2025 confirms Mexico as the top producer, followed by China.
Reserves
China ranks lower in known silver reserves. Global reserves are estimated at around 610,000 metric tons (2023 data), with Peru holding the largest share (~18%), followed by Australia, Poland, Russia, and others. China holds about 70,000–71,000 metric tons, representing roughly 11–13% and placing it third or fifth globally depending on the source (e.g., USGS data).Refining and Processing ControlChina exerts greater control here. It processes a substantial portion of global silver, including imports of ore/concentrates/doré from other countries (much silver is a byproduct of base metal mining). Recent reports (late 2025) estimate China controls 60–70% of global refined silver supply/capacity. This dominance stems from its large base metal smelting/refining infrastructure.Starting January 1, 2026, China implemented export licensing requirements for refined silver (minimum production thresholds and government approval), aiming to prioritize domestic needs (e.g., solar panels, EVs, electronics). This has raised concerns about tightening global availability, contributing to price surges and market deficits.