Mexican Silver Mining – First In the World – But Production Set To Fall.
Mexican Government says silver mining production to fall 6% in 2016.
Endeavour Silver Corp projects their silver output will decrease 16% in 2016.
Silver Mining In Mexico
Mexico is the world’s leading silver mining country. In 2015, Mexican silver mining production grew 3.5% in 2015 vs. 2014.

According to the U.S. Department of the Interior | U.S. Geological Survey in recent years Mexico has averaged production of nearly 190 million ounces of silver a year.
2015: Silver Miners’ Last Hurrah
After many primary silver miners reported increases and or record silver mining production in 2015, global silver mining production is projected to fall in 2016.
According to investment bank Société Générale, silver supply will fall for the “1st time in over decade“. Societe General’s projects a decline in silver mining production of 9.2% in 2016 and a 13% fall in 2017 over silver mining production in 2015. Société Générale’s projections for silver mining decline in 2016 are greater than the 5% decline anticipated by the Silver Institute.
Last week, Mario Cantu, the economy ministry’s general mining coordinator said that Mexican silver production is expected to fall by more than 6 percent in 2016.

A decade of Mexican silver mining production growth is set to end in 2016.
Endeavour Silver Corp, a primary silver mining company located in Mexico, announced last week that its silver production had fallen 17% in the first quarter of 2016. This estimate is lower than previous guidance given earlier in the year. Silver mining appears to be getting more difficult for Endeavour Silver. According to their report, throughput in tonnes increased 7% in the first quarter of 2016 but that throughput resulted in a 17% decline in silver produced. Endeavour produced 7.1 million ounces of silver in 2015, flat over 2014, but its fourth quarter 2015 production was 14% lower than the fourth quarter of 2014.
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Mexican Silver Miners
First Majestic Silver Corp.
First Majestic has five primary silver mines in Mexico. First Majestic increased their silver mining production 5% in 2015 over 2014 and expects to increase its production 9-20% in 2016. The increase, however, is projected to come from a new mine coming online in 2016 that will offset projected decreases at two of their other mines. First Majestic projects about 12-13.3 million ounces of silver production in 2016.
Fresnillo plc
Fresnillo, with it mines Mexico, is the world’s largest primary silver mining company. Fresnillo increased silver production 4.4% in 2015 from 2014 and expects to increase production another 4-9% in 2016. Like First Majestic, the silver production increase is projected to come, not from existing mine output, but from a silverstream contract. Fresnillo projects about 50 million ounces of silver production in 2016.
Great Panther Silver Limited
Great Panther has its operations in Mexico and increased silver production 30% in 2015 over 2014. Great Panther has provided a projected range of silver production for 2016 from -4% to +4%. Great Panther estimates about 4 million ounces of silver production in 2016.
Primary and Secondary Silver Mining Outlook
Silver mining provides about 85% of total annual supply. The remainder comes from “scrap” or recycled silver. While lower prices have caused primary silver miners to increase their silver production in recent years, lower prices have reduced the amount of scrap silver available in recent years.
Primary silver mines provide about 30% of the total silver mining supply. The remainder comes from the mining of base metals copper, zinc and zinc. Base metal miners have experienced production cutbacks and financial difficulties due to the global economic slump that is expected to continue in 2016. Secondary silver production from base metals mining is expected to fall in 2016.
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