As of 2024, world silver reserves are estimated at 550-640 thousand metric tons. It is noteworthy that the largest economies in the world, such as the USA or India, are not included in the top five in terms of reserves, reports the Indian news portal Wion. It includes countries from different parts of the world.

Peru

The largest silver reserves in the world are located in Peru. As of 2024, this country had 140,000 metric tons (hereinafter referred to as MT) of reserves. 3,100 MT of silver have been mined. Mines in this country are operated by Canada, the USA, Switzerland, China, Japan, the UK, Australia and Mexico.

Russia

The aggressor state Russia has silver reserves estimated at 92,000 tons, which is the second largest reserve. “In 2024, approximately 1,200 tons of silver were produced. Despite global turmoil and ongoing sanctions, Russia continues to hold global dominance in silver reserves,” the resource writes.

China

The third place on the list of leaders is occupied by China with reserves of 70,000 tons. It is also one of the largest producers and consumers of silver. The growth in demand is due to the development of electronics and renewable energy. “China is an important competitor to the United States in the production of critical minerals, and in 2024 the country's silver production was 3,300 tons,” the authors add.

Poland

The center of silver mining in Europe is Poland with reserves of 61,000 tons. In 2024, it produced 1,300 tons. Its reserves are significant and are mainly extracted from copper mines.

Mexico

Historically, this country has been one of the largest producers of silver in the world. It continues to play an important role in world reserves. As of 2024, it had 37,000 tons of silver. | BGNES