Mexico emerging as top silver mine destination in the world
November 21, 2011
Although silver mining occurs in a wide range of countries, Mexico is quickly becoming a silver hotspot, with metal production far exceeding that of other mines around the world and no major roadblocks standing in its way, Resource Investing News reports.
According to the media outlet, raw materials specialist Dr. Thomas Chaize listed Mexico as one of the "pillars of world production of silver," and the country's Director of the Mexican Mining Chamber recently stated that Mexico silver production had even surpassed that of Peru in 2010.
According to the Engineering and Mining Journal, Mexico has become the world's largest silver producer. In the first six months of 2011, the country had already increased its output to more than 66 million ounces, providing support for future mines to develop.
The nation has seen immense foreign investment, and will likely continue to see further growth from Canadian silver miners. Between 2010 and 2012, the country is expecting more than $13 billion in mining and metals investments, with a large portion to be spent on silver mining expansion, the news provider stated.