Mexico Sees Silver Output of 420,629 kg in May

Reuters reported that strong prices brought Mexico’s May silver output up to 420,629 kilograms, an increase of 18.6 percent from a year earlier.

As quoted in the market news:

Fresnillo, Mexico and the world’s largest primary silver producer, expects to meet its 2012 silver targets thanks to a ramp-up of production at its new Saucito mine.

Fresnillo has seen a decline in silver production over the previous year, suggesting that other Mexican mining companies were amping up their own production, said RBC analyst Evgenii Risovich.

“Most of the (silver) mines now operate profitably, so it makes sense that production is growing because there is money to be made,” Risovich said.

Click here to read the full Reuters report.