Ranked: The Largest Silver Deposits & Projects in the World
Global silver demand is set to surge over the next decade, fueled by emerging technologies such as electric vehicles and solar power.
Demand for silver in the solar industry alone has skyrocketed, increasing from less than 50 million ounces (Moz) a decade ago to 161 Moz in 2023.
This raises a crucial question: where will the necessary supply come from to meet this growing demand? This graphic shows the largest silver deposits and projects around the world separated by resource category.
The largest deposit in the world is Mount Isa, which holds 961 million ounces in the measured and indicated category and 489 million ounces in the inferred category, totaling 1,450 million ounces.
The second-largest deposit is Udokan, which holds 1,157 million ounces across all categories, followed by Polkowice-Sieroszowice with 1,099 million ounces and Rudna with 1,096 million ounces (this resource estimate is from 2014, and current numbers have not been updated as far as we know).
When it comes to grade, the Fresnillo deposit stands out with an average grade of 439 g/t, within a 374 million ounces measured and indicated resource.
Rank | Owner | Project | Category | M&I | Grade |
1 | Udokan Copper | Udokan | M&I + I | 1157 M | 12.4 |
2 | KGHM Polska Miedz SA | Polkowice-Sieroszowice (2014) | M&I | 1099 M | 62.9 |
3 | KGHM Polska Miedz SA | Rudna (2014) | M&I | 1096 M | 56.6 |
4 | Glencore PLC | Mount Isa | M&I | 961 M | 70.0 |
5 | KGHM Polska Miedz SA | Lubin (2014) | M&I | 733 M | 54.9 |
6 | Pan American Silver Corp | Navidad | Indicated | 565 M | 126.0 |
7 | Glencore PLC | Mount Isa | Inferred | 489 M | 49.0 |
8 | South32 ADR | Hermosa (Taylor) | M&I + I | 385 M | 82.0 |
9 | Endeavour Silver Corp | Pitarrilla In Pit (Oxide & Transition) | Indicated | 375 M | 87.0 |
10 | Fresnillo Plc | Fresnillo | M&I | 374 M | 439.0 |
11 | Hycroft Mining Holding Corporation | Hycroft Mine | M&I | 361 M | 13.7 |
12 | Glencore PLC | Antamina | M&I | 349 M | 11.0 |
13 | BHP Group Ltd | Olympic Dam (OC Sulphide) | M&I + I | 340 M | 1.0 |
14 | Boliden AB | Garpenberg | P&P | 320 M | 90.0 |
15 | Newmont Corporation | Peñasquito | P&P | 313 M | 33.4 |
16 | Fresnillo Plc | Fresnillo | Inferred | 297 M | 359.0 |
17 | Fresnillo Plc | Minera San Julián | P&P | 288 M | 285.0 |
18 | Eloro Resources Ltd | Iska Iska | Inferred | 273 M | 13.8 |
19 | Bear Creek Mining Corp | Corani | P&P | 229 M | 51.3 |
20 | Pan American Silver Corp | Escobal | Probable | 225 M | 316.0 |
21 | Fresnillo Plc | Saucito | M&I | 224 M | 357.0 |
22 | Glencore PLC | McArthur River | M&I | 216 M | 45.0 |
23 | New Pacific Metals Corp | Silver Sand | M&I | 202 M | 116.0 |
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