The US was one of the world’s top silver producers in 2016, recording output of 1,100 MT. That’s slightly more than its 2015 total of 1,090 MT.
Much of the nation’s silver is produced in Alaska, the country’s leading silver-producing state. But which companies produce silver in the US? Interestingly, much of the silver in the country is mined as a by-product at gold mines. However, some companies have made silver their focus, and it is the primary metal that they produce.
Read on for an overview of three of the largest primary silver producers in the US. While they mine other metals and operate in other parts of the world as well, they are all forces to be reckoned with in the US silver space.
Coeur Mining (NYSE:CDE)
Coeur Mining describes itself as a growing precious metals producer with five mines in the Americas. It produces at several wholly owned operations: the Palmarejo silver-gold complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota and the San Bartolome silver mine in Bolivia.
The company produced 14.8 million ounces of silver and 36.3 million silver equivalent ounces in 2016. In 2017, the majority of its output is expected to come from Palmarejo. The company’s Q1 2017 results show that its output came in at 3.9 million ounces of silver and 9.2 million silver equivalent ounces.
At the end of the day on May 2, Coeur Mining’s share price was down 5.28 percent year-to-date at $8.61.
Hecla Mining (NYSE:HL)
Hecla Mining has operating silver mines in Alaska, Idaho and Mexico, and also has a gold-producing mine in Canada. The company also has a variety of exploration properties and pre-development projects in six silver- and gold-mining districts in North America.
In 2016, Hecla’s silver production came in slightly higher than it initially predicted, at 17.2 million ounces of silver and 46 million silver equivalent ounces. During Q1 2017, the company’s silver production decreased by 27 percent year-on-year, partially due to a worker’s strike at its Lucky Friday mine in Idaho. It came in at 3.4 million ounces, while silver equivalent production was 10.6 million ounces.
Hecla Mining’s share price has increased modestly in 2017. At close of day on May 2 its share price was up 0.95 percent at $5.29.
Americas Silver (TSX:USA)
Americas Silver has two primary assets in the US and Mexico: the Cosala operations in Mexico and the Galena complex in Idaho.
The company produced 2.39 million ounces of silver in 2016 and 4.68 million silver equivalent ounces. The company said production was slightly lower than it estimated because it temporarily closed the Nuestra Senora mine at its Cosala operations in April. The closure was due to ground movements around historic stopes near the mine’s primary access site.
Like Coeur and Hecla, Americas Silver has already released its Q1 2017 results. They show that the company’s silver output was 524,000 ounces, while silver equivalent production was 1.1 million ounces. Those are decreases of 22 and 13 percent, respectively, from Q1 2016.
As of close of day on May 2, Americas Silver’s share price had gained 14.86 percent to reach $4.02.
This is an updated version of an article originally published by the Investing News Network in 2013.
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Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.