Newmont, Fresnillo plc and First Majestic Silver operated the largest silver mines in Mexico in 2021, reported the Mining Chamber of Mexico (Camimex).

In 2021, silver mining production was 196.04 million ounces, 8.8% more than the corresponding figure for 2020.

By state, Zacatecas retains the first position, with a 38% share; the largest silver mines in the country are located in this state: «Peñasquito», owned by Newmont, and «Saucito» and «Fresnillo», owned by Fresnillo plc.

While «Peñasquito» was the largest silver producer in 2021, Zacatecas’ production increased 6 percent.

For its part, Chihuahua ranked second with a contribution of 22.3 percent and had an increase in production of 1.6 percent, highlighting the contributions of «Cerro Los Gatos», from Gato Silver; «San Julián», from Fresnillo plc and «Palmarejo», from Coeur Mining.

Durango ranked third, with a 15% national share, increasing silver production by 25.7%, thanks to the mines «San Dimas», of First Majestic Silver and «Guanaceví», of Endeavour Silver, among others.

Silver mines

Fresnillo plc solidified its position as the largest silver producer in Mexico and the world. The company accounted for 24.6% of national production and 6% of global production. It was followed by Newmont, Grupo México, Peñoles, and First Majestic Silver, which together represented 61% of the national total.

Among the operations with the largest increases, Fresnillo plc’s «San Julián» mine in Chihuahua stood out, quadrupling its production in 2021 compared to 2020. Similarly, Coeur Mining’s «Palmarejo» mine increased its volume by 8.8%, strengthening its annual performance.

Meanwhile, Sierra Metals’ «Cusi» mine saw a 41.6% increase year-over-year. In Sonora, Argonaut Gold’s «La Colorada» mine grew by 10%, while First Majestic Silver’s «Santa Elena» mine reported a 15% increase in volume.

In Durango, Endeavour Silver achieved a record at “Guanaceví,” with 4.33 million ounces of silver. Excellon Resources’ “La Platosa” increased production by 22.6%. Additionally, First Majestic Silver’s “San Dimas” produced 7.65 million ounces, nearly 20% more, and Minas de Bacis’ “El Herrero” saw an increase of approximately 7%.

«Newmont’s Peñasquito, in Zacatecas, produced more than 31 million ounces. Other mines that increased their production were: «Sabinas», of Industrias Peñoles, and «La Colorada», of Panamerican Silver, with 12.7% and 2.9%, respectively.

In San Luis Potosí, «Charcas», of Grupo México, recorded an increase of 6.9% compared to 2020. In Oaxaca, Fortuna Silver’s «San José» increased its volumes by 4.2%, and Gold Resource‘s «El Águila» produced 1.2 million ounces.