Prospector Trails
Minerals/Precious metals
Silver is both a precious metal and an industrial metal: solar panels, electronics, brazing, jewellery and investment.
01 · Where it's mined
Mine output was about 26 kt in 2025: Mexico 6.3 kt, Peru 3.6 kt, China 3.4 kt. Most silver is a by-product of lead, zinc, copper and gold mining.
Mine production, Ag content, 2025. Columns on the globe show each country's share.
02 · A century of output
03 · Where it goes
Silver ores and concentrates, 2024, by value
Arcs run from exporter to importer; thicker means more value. CEPII BACI reconciled trade data.
04 · What it's used for
Solar panels are the fastest-growing industrial use.
05 · Who calls it critical
Added to the US critical minerals list in 2025.
06 · Mines to know
Spikes mark mines with output in open data; height follows reported output. Where a public source says where a mine's product goes, an arc runs to that plant.
Every silver mine and project, by countryThe detail
Mine output was about 26 kt in 2025: Mexico 6.3 kt, Peru 3.6 kt, China 3.4 kt. Most silver is a by-product of lead, zinc, copper and gold mining.
Solar panels are the fastest-growing industrial use.
Added to the US critical minerals list in 2025.
In 2025, U.S. mines produced approximately 1,100 tons of silver with an estimated value of $1.4 billion. Silver was produced at 4 silver mines and as a byproduct or coproduct from 31 domestic base- and precious-metal operations. Silver was produced in 12 States; Alaska continued as the country’s leading silver-producing State, followed by Nevada. There were 24 U.S. refiners that reported production of commercial-grade silver with an estimated total output of 2,100 tons from domestic and foreign ores and concentrates and from new and old scrap. The physical properties of silver include high ductility, electrical conductivity, malleability, and reflectivity. In 2025, the estimated domestic uses for silver were in electrical and electronics, 25%; other industrial uses and photography, 19%; net physical investment (bars), 18%; photovoltaics (PV), 15%; coins and medals, 14%; jewelry and silverware, 6%; and brazing and solder, 3%. Other applications for silver include use in antimicrobial bandages, clothing, pharmaceuticals, and plastics; batteries; bearings; brazing and soldering; catalytic converters in automobiles; electroplating; inks; mirrors; photography; photovoltaic solar cells; water purification; wood treatment; and processing of spent ethylene oxide catalysts. Mercury and silver, the main components of dental amalgam, are biocides, and their use in amalgam inhibits recurrent decay.
The estimated average silver price in 2025 was $38 per troy ounce, 34% higher than the average price in 2024. The price began the year at $29.35 per troy ounce, which was the yearly low. The price increased for 11 months in 2025 and reached a high of $53.60 per troy ounce on November 13. The continued supply deficit was cited as a reason for price increases in 2025. In 2025, global consumption of silver was an estimated 35,700 tons, compared with 36,100 tons in 2024. Coin and bar consumption increased by 7% in 2025, but consumption of silver for industrial use was estimated to be unchanged from that in 2024, owing to slower ethylene oxide capacity growth and a decline in silver loadings in the PV sector, which was expected to offset continued growth in automotive, consumer electronics, and power grid uses. Consumption of silver in jewelry and silverware was estimated to have decreased by 6% and 15%, respectively.8 World silver mine production increased slightly in 2025 to an estimated 26,000 tons compared with 25,300 tons in 2024. Domestic silver production was estimated to have increased by 4% in 2025. One company in Idaho produced from higher silver grade ore than that in 2024 and implemented operational improvements and efficiencies. On November 7, 2025, the U.S. Final 2025 List of Critical Minerals was published in the Federal Register (90 FR 50494). The changes in the 2025 list from the prior list published in 2022 (87 FR 10381) were the addition of copper, lead, potash, rhenium, silicon, and silver, based on the U.S. Geological Survey updated methodology for the 2025 list. As required by the Energy Act, public comment and interagency input were requested in response to the draft U.S. list of critical minerals published in the Federal Register (90 FR 41591). Based on that input, boron, metallurgical coal, phosphate rock, and uranium were also added.
Digital imaging, film with reduced silver content, silverless black-and-white film, and xerography substitute for traditional photographic applications for silver. Surgical pins and plates may be made with stainless steel, tantalum, and titanium in place of silver. Stainless steel may be substituted for silver flatware. Nonsilver batteries may replace silver batteries in some applications. Aluminum and rhodium may be used to replace silver that was traditionally used in mirrors and other reflecting surfaces. Silver may be used to replace more costly metals in catalytic converters for off-road vehicles.
In 2025, approximately 1,000 tons of silver was recovered from new and old scrap, accounting for about 11% of apparent consumption.
Although silver was a principal product at several mines, silver was primarily obtained as a byproduct from lead-zinc, copper, and gold mines, in descending order of silver production. The polymetallic ore deposits from which silver was recovered account for more than two-thirds of U.S. and world resources of silver. Most recent silver discoveries have been associated with gold occurrences; however, copper and lead-zinc occurrences that contain byproduct silver will continue to account for a significant share of reserves and resources in the future.