Poland at the forefront of the world's silver reserves
28.02.2024
Poland is gaining more and more recognition in the international arena as a leader in the field of silver resources. The latest Mineral Commodity Summaries 2024 report prepared by the United States Geological Survey (USGS) leaves no doubt – Poland is ahead of China, Australia and Peru, taking first place in terms of the number of deposits.

The discovery of gigantic silver reserves in Poland arouses great interest all over the world. The stock, currently valued at $127 billion, is increasing in value as demand for the commodity on global exchanges grows. Experts forecast a further increase in the value of silver in the coming years.
Dynamic growth of silver production in Poland
The silver deposits discovered last year have significantly increased the world’s deposits, and Poland has played a key role in this. A sharp increase in production in Poland, amounting to as much as 161.5 per cent, contributed to an increase in global resources from 550 thousand to 720 thousand tonnes.
Prospects for the future of mining
Despite its vast reserves, Poland still lags behind in terms of extraction compared to other world leaders. Mexico, China and Peru dominate production, but Poland has the potential to increase its share in the global market. The increase in production may be crucial for Poland’s further economic growth.
The largest silver mine in the world
In the ranking of the “largest silver mines in the world” according to the World Silver Survey 2023 ranking, KGHM Polska Miedź ranks first. Silver production by the KGHM Group reached 1,327 tonnes in 2022, and as much as 16 percent of its revenue comes from this resource. Silver is sold in the form of ingots and granules, with the metal going to various recipients, including financial institutions. Silver production in KGHM takes place mainly in the Głogów Copper Smelter located in the west of Poland, where the Precious Metals Department has been operating since 1993. This is where the silver and gold present in copper ore are recovered.
As a producer of refined copper and silver, the KGHM Polska Miedź Group focuses on exploration and production and metallurgical activities, with assets on three continents. The world’s copper ore reserves controlled by KGHM amount to 40 million tonnes, and the State Treasury holds 31.79 percent of the company’s shares.
Silver Prices and Investment Outlook
The rise in the price of gold means that more and more people are also becoming interested in silver as an investment. Historical price ratios suggest that the price of silver should rise, which makes this commodity attractive to investors. Interest rate cuts in the United States and global economic uncertainty make silver an attractive hedge and diversification of an investment portfolio. As the financial markets continue to develop, the price of silver may rise significantly, which is an incentive for investors to consider this investment option.
The discovery of gigantic silver reserves makes Poland the leader of the global market for this valuable raw material. Prospects for production growth and dynamic changes in the markets. Silver is becoming an increasingly attractive investment option. New economic opportunities are opening up for Poland, and a chance for profit and portfolio diversification for investors. However, it is also important to take into account the uncertainty of global markets and changing economic conditions that could affect the future of the silver market. Therefore, a conscious and careful investment in this raw material can bring significant benefits in the long term.
Sources: “Mineral Commodity Summaries” – United States Geological Survey (USGS), “World Silver Survey 2023” – The Silver Institute
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