Whenever there is talk of precious metals, gold comes first to mind. From marriage to investment, the shine of gold has attracted people for centuries. But have you ever wondered which country has the most silver in the world? If not, then this information may be surprising for you. silver may be cheaper than gold, but many countries are at the forefront in terms of its utility and storage capacity. Let us tell you about those countries,
Why is silver special?
Silver is not limited to just jewellery. It is used extensively in electronics, medical equipment, solar panels, batteries, photography and industrial machines. silver is an excellent conductor, that is, it can flow electricity at the fastest speed. For this reason it is very important in technical equipment.
Which country has the most silver?
Mexico is the world's largest silver producing country. According to the World silver Survey, mexico alone accounts for more than 20 percent of all the silver mined worldwide every year. Mexico's major mines such as Fresnillo, Saucito, and San Julian are counted among the world's largest silver producing sites. According to the 2023 report, mexico produced about 6,200 tonnes of silver.
Other major silver producing countries
After mexico, countries like china, peru, Chile, Russia, Australia, and poland are also major producers of silver. china ranks second in silver production and is also a major consumer of it in the manufacture of technical equipment. peru is also a major silver producing country in South America and many of its old mines are still active today.
India's position
India is a major consumer of silver, but lags behind in terms of production. india does have some silver reserves in rajasthan and Jharkhand, but most of the country's needs are met through imports. There is always a demand for silver in india, especially for religious, cultural and investment purposes. Overall, even though the demand for gold is very high, many needs cannot be fulfilled without silver. Silver's utility in industrial production or investment has increased more than ever. Its shine is also playing an important role in the world economy.
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