Mine output fell significantly in three of the world’s top silver-producing countries through the first half of the year.
Peru’s silver production fell 10%, mine output in Mexico fell 4%, and silver production in Chile was down 7%, according to data released by government agencies in those three countries.
Silver production in Chile plummeted 32% in May.
This precipitous drop in output in the world’s fifth largest silver producing country is part of a broader trend of falling production and tightening silver supply.
According to reporting by Seeking Alpha citing Chile’s Ministry of Mines, the country’s silver production in May fell to 97.1 tons compared to 141.9 tons in May 2016.