From pv magazine LatAm
Latin America now anchors the global silver supply chain, producing over 55% of the world’s total output. The metal – vital to solar module, semiconductor, and electric vehicle manufacturing – has shifted decisively from its historic monetary role to an industrial one.
According to CTC, Mexico leads with 185.7 million ounces of annual production, followed by Peru with 108.0 million, Bolivia with 47.8 million, Chile with 43.2 million, and Argentina with 24.9 million. Together, the five countries deliver about 410 million ounces per year, far outpacing other top producers including China, Russia, and the United States.
Mexico’s dominance rests on long-producing deposits in Zacatecas and Durango, while Peru’s dual output of copper and silver reinforces its strategic mining base. Bolivia continues to extract from its historic Potosí district, and Chile leverages its copper operations for secondary silver production. Argentina, still scaling up, is consolidating new projects that strengthen its regional role.
The region’s dependence on polymetallic extraction and exposure to price volatility pose risks, but its geological endowment gives it unmatched leverage in the clean-energy economy. As industrial demand accelerates, the question is not whether Latin America can maintain its position – but whether it can capture more value from refining, processing, and technology integration rather than remaining a raw-material supplier.
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