Big Production Declines From The World Largest Silver Producers

Precious Metals by SRSrocco

While this was a significant drop in silver mine supply from the leading producers, what took place in Australia (world’s fourth largest silver producer), was quite a shocker.  Not only did Australian silver production fall precipitously, it was down a stunning 31% during the first quarter of 2015 compared to the same period last year:

As we can see, Australian silver production declined from 491 metric tons (mt) in Q1 2014, to 340 mt Q1 2015.  This was a 151 mt decline (31%) year-over-year (y.o.y.).  I tried to contact the Australian Government Department that provides the Resources & Energy Quarterly Reports on this figure, but did not receive a reply. 

Often, the figures are revised.  However, I have never seen silver production figures revised more than 5-8%.  Furthermore, I went back to the site several times to see if there was a revision, or if the figure was a misprint… no change.