US July Mined Silver Production Down 12 Percent on Year

Mineweb reported that mines in the United States produced 2,588,140 ounces of silver in July, a decrease of 12 percent compared to the previous July, according to the US Geological Survey.

As quoted in the market news:

“Silver holdings in exchange-traded products (ETP) reached their highest level in 14 months in mid-July, and provided a short-term boost to silver prices but not enough to cause the monthly average to increase,” said the agency. “Physical holdings in major silver ETP increase a net 141 metric tons by the end of July 17 to 18,200 t of silver, a level last seen in May 2011.”

For the period from January to July, U.S. mines reported 579,000 kg (18,615,300 oz.) of silver production with 130,000 kg (4.18 million oz.) coming from Nevada mines.

Click here to read the full Mineweb report.