One of Poland’s silver mines is producing so much so silver that it has reached the very top of the “largest silver mines in the world” from the World Silver Survey 2021 ranking.
The KGHM Polska Miedź copper and silver mining corporation, located in western Poland, produced 1,352 tonnes of silver in 2020, and also took second place in the “largest silver producers” ranking.
The statement emphasized that KGHM has held a very high position in global rankings for many years. Moreover, KGHM has also been chosen as the first producer of silver in the world by the Kitco.com portal dedicated to investors.
KGHM sells silver in the form of bars and granules. It delivers its granule forms to factories which produce materials for the jewelry industry, as well as the metal industry, which produces alloys with silver. KGHM sells silver in bar form mainly to financial institutions.
The KGHM’s mine in Lubin represents one of the largest copper and silver reserves in the world, containing an estimated reserve of 347 million tonnes of ore grading 1.26 percent copper and 58 g/tonnes of silver, which means that the mining company extracts 58 grams of silver from every tonne of ore. The annual ore production is around 7.3 million tonnes, from which 92,000 tonnes of copper and 423 tonnes of silver are extracted.
The latest statement emphasized that the World Silver Survey is one of the most important annual reports which published the ranking of the largest silver producers. It is prepared by a team of global analysts from the global metal markets and contains a synthesis of key aspects of the silver market, broad statistics and economic analysis.
Title image: The silver mine in Lubin in western Poland, source kghm.com