2025年世界白银调查（英）

World Silver Survey 2025Major Funding Companies of The Silver Institute Asahi Refining Coeur Mining, Inc. Endeavour Silver Corp.Fresnillo plc Glencore International AG Hecla Mining Company Industrias Peñoles, S.A.B. de C.V.Pan American Silver Corp.San Cristobal Mining Wheaton Precious Metals Front & Back Cover Images: Courtesy of MKS PAMPWorld Silver Survey 2025Dear Reader,Over the past 35 years, the Silver Institute’s World Silver Survey has been a reliable source of information about the global silver market, widely quoted and referenced by industry, governments, media, and others.The Survey offers market participants and observers a wide-ranging overview at the international silver market during the preceding year, with an in-depth look at the various components of silver demand and the areas that contribute to supplying the market with the indispensable precious metal, silver. Conducting research and producing a report of this scale takes an experienced and knowledgeable team of professionals. Metals Focus, a leading precious metals consultancy, independently researched and produced this year’s edition of the World Silver Survey; this is the 6th edition Metals Focus has produced for us. Metals Focus has over 30 staff and consultants in eight locations worldwide and has high-level contacts in virtually all aspects of the silver industry. Their team’s breadth and depth make them uniquely qualified to produce this report.One of my goals as Chair is to highlight our members’ commitment to sustainability. Our members strategically contribute to the well-being of people through the sustainable mining of silver, all the while caring for our employees, partnering with our communities, and protecting the environment. Later this year, the Silver Institute will share our combined efforts by releasing a video and other materials on our commitment to sustainability.Another goal is to continue highlighting silver as an essential and critical metal for the future, especially in green energy applications. We will continue to draw attention to silver’s important role in decarbonization, health, water purification and industry.I want to thank all our member companies and sponsors of the 2025 edition of the World Silver Survey for their financial support, which made this publication possible. We are grateful for your generosity and leadership.We hope that you find this report both enjoyable and beneficial.Octavio AlvidrezChair of the Silver InstituteChief Executive Officer of Fresnillo plcWorld Silver Survey 2025Fresnillo plc is the world’s largest primary silver producer and Mexico’s largest gold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES. Fresnillo plc has eight operating mines, all of them in Mexico - Fresnillo, Saucito, Juanicipio, Ciénega, Herradura, Soledad-Dipolos1, Noche Buena and San Julián (Veins and Disseminated Ore Body) and four advanced exploration projects - Orisyvo, Rodeo, Guanajuato and Tajitos as well as