The global mine supply from the top silver-producing countries may decline more than the industry forecasts. The leading consultancies reported that global silver production would increase moderately by 1-2% in 2018. However, the data from several countries and large mining companies suggest that overall world silver production may decline by 2-3+%.
For example, the top two leading silver-producing countries, Mexico and Peru, have reported declines in 2018, according to their official data. Mexico's silver production fell 2.5% from Jan-Oct 2018 compared to the same period last year while Peru's mine supply fell more than 5%