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Top 15 silver mines in Mexico

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

By company, Fresnillo plc is the largest silver producer in Mexico and in the world, accounting for 24.6% of the national total and 6% worldwide; it is followed in importance by Newmont, Grupo Mexico, Peñoles and First Majestic Silver. These five companies account for 61% of the national production.

The operations that increased their volumes were:

“San Julián”, of Fresnillo plc, in Chihuahua, produced 4 times its 2020 record in 2021 and “Palmarejo”, of Coeur Mining, increased its production 8.8%.

Sierra Metals’ Cusi increased 41.6% over the previous year. In Sonora, “La Colorada”, from Argonaut Gold, increased its production by 10% and “Santa Elena”, from First Majestic Silver, increased its volumes by 15%; meanwhile, in Durango, Endeavour Silver, with its mine “Guanaceví”, registered a production record by reaching 4. 33 million ounces of silver; “La Platosa”, of Excellon Resources, did the same, increasing 22.6% with respect to the previous year, “San Dimas”, of First Majestic Silver, produced 7.65 million ounces, an increase in its production of almost 20% and “El Herrero” of Minas de Bacis registered an increase of almost 7% in the production of this metal.

“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.

 

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