Global silver mine production dropped by 0.6% year-on-year 885.8-million ounces in 2016 – the first decrease since 2002, according to the ‘World Silver Survey’ compiled by GFMS Thomson Reuters on behalf of the Silver Institute. Total silver supply decreased by 32.6-million ounces to 1.01-billion ounces in 2016 in line with decreased demand for the precious metal, with falling jewelry, coin and bar and industrial consumption contributing to an 11% decline.
