Introduction:
Global exploration spending in the silver sector has been focused on both juniors and major players, with significant allocations being made to further develop this market. In 2020, the silver market reached a production volume of 25,000 metric tons, with a market size of $21 billion.
Exploration Spending Silver Focused Juniors and Major Allocations:
1. First Majestic Silver Corp: With a market share of 8%, this major silver producer has been actively investing in exploration to expand its operations and increase production.
2. Pan American Silver Corp: As one of the largest silver producers in the world, Pan American Silver Corp has allocated significant resources to exploration, leading to a production volume of 27 million ounces in 2020.
3. Endeavour Silver Corp: This junior silver mining company has been focusing its exploration efforts on high-grade silver deposits, leading to a production volume of 3.5 million ounces in 2020.
4. Fresnillo PLC: As the world’s largest primary silver producer, Fresnillo PLC has been investing in exploration to maintain its leading position in the market.
5. Hochschild Mining PLC: With a focus on exploration in South America, Hochschild Mining PLC has reported a production volume of 20.9 million ounces of silver in 2020.
6. MAG Silver Corp: This junior exploration company has been actively exploring its Juanicipio project in Mexico, with plans to increase production in the coming years.
7. Coeur Mining Inc: Coeur Mining Inc has been investing in exploration to expand its silver reserves and increase production, with a production volume of 12.8 million ounces in 2020.
8. Hecla Mining Company: With operations in the United States and Mexico, Hecla Mining Company has been focused on exploration to increase its silver production, reaching 13.5 million ounces in 2020.
9. SSR Mining Inc: SSR Mining Inc has been investing in exploration to expand its silver portfolio, with a production volume of 9.8 million ounces in 2020.
10. SilverCrest Metals Inc: This junior exploration company has been focusing its efforts on high-grade silver projects in Mexico, with promising results in exploration.
11. Great Panther Mining Limited: Great Panther Mining Limited has been actively exploring its silver projects in Latin America, with a production volume of 3.5 million ounces in 2020.
12. Americas Gold and Silver Corporation: With operations in Mexico and the United States, Americas Gold and Silver Corporation has been investing in exploration to increase its silver production.
13. Endeavour Silver Corp: This junior silver mining company has been actively exploring its silver projects in Mexico, with a production volume of 3.5 million ounces in 2020.
14. Fortuna Silver Mines Inc: Fortuna Silver Mines Inc has been investing in exploration to expand its silver reserves and increase production, with a production volume of 8.7 million ounces in 2020.
15. MAG Silver Corp: This junior exploration company has been focusing its efforts on high-grade silver projects in Mexico, with promising results in exploration.
16. Silvercorp Metals Inc: Silvercorp Metals Inc has been actively exploring its silver projects in China, with a production volume of 6.8 million ounces in 2020.
17. Avino Silver & Gold Mines Ltd: Avino Silver & Gold Mines Ltd has been investing in exploration to expand its silver reserves and increase production, with a production volume of 1.5 million ounces in 2020.
18. Americas Gold and Silver Corporation: Americas Gold and Silver Corporation has been actively exploring its silver projects in Mexico, with a production volume of 3.8 million ounces in 2020.
19. Excellon Resources Inc: Excellon Resources Inc has been investing in exploration to expand its silver reserves and increase production, with a production volume of 1.1 million ounces in 2020.
20. Silver One Resources Inc: This junior exploration company has been focusing its efforts on high-grade silver projects in North America, with promising results in exploration.
Insights:
The trend of exploration spending in the silver sector focusing on both juniors and major players is expected to continue in the coming years. With the increasing demand for silver in industries such as electronics and solar panels, companies are looking to expand their reserves and increase production to meet this demand. In 2021, the silver market is projected to reach a production volume of 26,000 metric tons, with a market size of $22 billion. This presents opportunities for companies to invest in exploration and further develop the silver market.
Related Analysis: View Previous Industry Report
