While that’s far below first-place Mexico’s 6,400 MT of silver, the US is still a major producer of the precious metal, and is likely to remain a key source moving forward. However, few mines in the US are primary silver producers — much of the silver in the country is produced as a by-product of gold mining; it can also be found with metals like copper and zinc.
So where exactly is silver produced in the US, and which companies are mining it? Alaska is the leading silver-producing state, followed by Nevada and Idaho. Read on for an overview of the three largest US silver producers by market cap.
Data for the stocks listed was current as of May 13, 2024.
Market cap: US$3.3 billion
“The first quarter reflects an inflection point with the strong performance from Greens Creek, achieving full production at the Lucky Friday, and significant improvements in safety, environment, and production from Keno Hill,” said Phillips S. Baker Jr., Hecla’s president and CEO, in a press release. “With this strong start to the year, we are well-positioned to achieve our production and cost guidance for 2024.” The company also said it is on track to become Canada’s largest primary silver producer as it ramps up production at Keno Hill in Yukon.
Market cap: US$2.06 billion
The company also sees some silver output from its Wharf gold mine in South Dakota. Its other operating mines include the Palmarejo silver-gold complex in Mexico, and the Kensington gold mine in Alaska. In addition to that, Coeur is advancing work at its Silvertip silver-zinc-lead project in BC, Canada.
“The Company finished 2023 on a high note, highlighted by a significant step-up in production levels at the newly expanded Rochester mine in Nevada and a record cash flow year at the Wharf mine in South Dakota,” President and CEO Mitchell J. Krebs said upon the release of Coeur’s 2023 results.
Market cap: C$86.83 million
This is an updated version of an article originally published by the Investing News Network in 2013.
Securities Disclosure: I, Melissa Pistilli, currently hold a small investment in Hecla Mining, but do not hold investments in any other company mentioned in this article.
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