Credit: Jurii / CC-BY-SA 3.0

How has the white precious metal (silver) performed in the context of trading in 2016? Which country has the most silver? According to the US Geological Survey, Mexico is reported as the country that produced the most silver in 2016, with Peru and China ranked second and third.

Many variables are involved when a country produces silver and knows a few factors that help understand the trend and patterns. Silver-focused investors keenly follow these factors, which surely give that extra edge when it comes to investing in silver. Here’s a sneak peek at the top silver producing countries in 2016.

Mexico
Mexico led the world in silver production for the seventh year in a row, in 2016. With an output edging to 230 MT from 2015 as it touched a production of 5,600 MT. Many factors play to benefit, like Fresnillo, one of the world’s most productive silver companies, is housed in Mexico. Fresnillo has numerous projects, including six different mines which extract silver and gold in Mexico.

Peru
Peru is known for the world’s largest silver reserves and is ranked as the second silver producer with a 4,100 MT in 2016. With an immense untapped silver potential, the rankings are expected to rise shortly.

China
China ranked third in 2016 with an output of 3,600 MT. The country has also been described as a solid mid-tier producer of silver by the Silver Institute.

Chile
Chile produced an output of 1,500 MT of silver in 2016. The country’s Economic Development Agency announced a new program that focused on augmenting the mining production in the country with energy efficiency initiatives and cutting costs.

Australia
Australia’s silver output in 2016 was 1,400 MT. This was a decrease from the 2015 production, which was 1,430 MT. BHP Billiton, a multinational mining company operating from Cannington mine, Queensland, remains the largest producer in Australia.

Poland
Poland churned out 1,400 MT, and there was a slight increase of 220 MT from 2015. KGHM Polska Miedsz, Poland, has been one of the world’s top silver producing companies.

 Russia
Russia’s silver output was set at 1,400 MT, and Polymetal International remains the country’s largest silver producer.

Bolivia
Bolivia produced an output of 1,300 MT in 2016. The country features several silver mines, including the San Cristobal mine.

United States
US produced 1,100 MT of silver in 2016. Coeur Mining contributes to a large chunk in the production of silver.