Mining is one of Canada’s main industries, and the country is well known for its production of potash, uranium, cobalt and platinum, among other minerals.
Silver mining is also important in Canada. Though the country isn’t one of the world’s 10 top silver-producing countries, its output is still significant. In 2016, Canada ranked 15th in silver production, with 13million ounces produced. Global silver production reached 885.5million ounces that year, down from890.8 million ounces in 2015.
In Canada, most silver produced is mined as a by-product from other metal mines. According to Natural Resources Canada (NRC), mines in Canada are largely polymetallic, so it’s no surprise that the main sources of silver in Canada are copperzinc, copper-nickel, gold and lead-zinc ores. For example, Hudbay Minerals’ (TSX:HBM,NYSE:HBM) Manitoba-based 777mine primarily produces zinc and copper, but also puts out some gold and silver.