Morocco has achieved the 15th position among the world’s top silver-producing countries in 2023, according to the World Silver Survey 2024. The country’s silver production reached 8.8 million ounces, marking a 1% increase from the previous year.
Since producing 7.8 million ounces in 2014, Morocco has steadily increased its output, peaking at 10.3 million ounces in 2017. Although there were minor declines in subsequent years, the recent figures indicate a stabilization and a positive growth trend, with 2023 continuing the upward momentum.
In Africa, Morocco leads as the top silver producer, contributing 49% of the continent’s total production. The kingdom’s output amounted to 275 tons out of Africa’s 562 tons of silver production in 2023. This significant share far surpasses other African nations, including Botswana, Eritrea, and South Africa.
Despite fluctuations in production over the past decade, including the peak in 2017, Morocco’s recent figures for 2022 and 2023—8.7 and 8.8 million ounces, respectively—reflect a recovery and a positive trend in silver output.
Morocco’s consistent performance in silver production is attributed to its rich mineral reserves, a stable mining sector, and ongoing investments in mining technology and infrastructure. These factors contribute to the country’s strong position in the global silver market and suggest a promising future with continued investments and favorable government policies.
Globally, silver production is dominated by Mexico, China, and Peru, which hold the top three spots with productions of 202.2 million, 109.3 million, and 107.1 million ounces, respectively. The top 15 silver-producing countries account for 790 million ounces of the world’s 1,017.6 million ounces of total production, representing nearly 80% of global output.
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