Primary Silver Miners Report Increased Production in 2015.
No Peak Silver in Mexico.
Mexican Silver Miners Ramp up Production.
In “Peak Silver Has Not Arrived in the United States“, we noted that while U.S. mining production was down from 2014, it was roughly equal to 2012 and 2013 levels and did not reflect any trend towards reduced production.
Peak silver doesn’t seem to be coming to Mexico, the world’s largest silver mining country. Primary silver miners with operations in Mexico and the U.S. are reporting increases in silver mining production and some cases, record production.
Update March 24, 2016 MEXICAN SILVER MINING PRODUCTION GREW 3.5% IN 2015
April 11, 2016 Mexican Silver Mining – First In the World
Update: Fresnillo, the world’s largest primary silver producer announces sales were up 11% in 2015 as Silver and Gold output increased.
Fresnillo intends to increase silver production again in 2016 – as much as 8%
Silver Production of North American Silver Miners
Endeavor Silver (EXK)
From their third quarter production report: “Silver production increased 11% to 1,820,282 oz”
First Majestic Silver Corp (AG)
From their third quarter 2015 report: total production at its five operating silver mines in Mexico for the third quarter ended September 30, 2015 reached 3,558,035 equivalent ounces of silver, “relatively unchanged compared to the same quarter in 2014.”
Great Panther Silver (GPL)
From their third quarter 2015 silver production report: “Continued strong production growth: Production growth of 21% compared to the third quarter of 2014 with 1,080,296 silver equivalent ounces (“Ag eq oz”) produced.”
Hecla Mining Company (HL) – U.S. Mines
Company Highlights: “Silver production of 11.6 million ounces, a Company recordand exceeding guidance of 10.5-11 million ounces.”
Pan American Silver Corporation(PAAS)
From their most recent quarterly report: “Pan American Silver reports increased silver production” “Silver production of 6.61 million ounces, 7% higher than a year ago”
Silver Standard Resources (SSRI)
From their 2016 silver mining production update:” The Pirquitas mine produced a record 10.3 million ounces of silver during 2015.“
Michael Goyer commenting on the increased silver mining production in the face of falling prices
@Smaulgld Same as oil producers…pumping themselves out of business and banks lending themselves into bankruptcy
— Michael Goyer (@michaeltg) January 12, 2016
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