Last week Louis Cammarosano, Smaulgld, and I sat down for our bi-weekly silver update. During that conversation we touched on global silver production and the miners, which is a subject that has not been on the calendar. The miners and silver production is a subject we are both very passionate about and decided to cover what the silver producing countries and primary silver miners are reporting into the major organizations and the shareholders. What was discovered is, not only surprising, but shows a very serious concentration beginning to unfold for both the silver producing countries as well as the silver miners. This confirms everything that we, at The Daily Coin, have been reporting over the past several months through the various interviews with top mining Executives.

As Louis reported on May 14, 2016:

Silver Miners Boost Production in 2015 

2015 was a mixed year for the silver mining industry. Silver prices fell from at the start of the year at $15.71 an ounce and ended 2015 at $13.82 an ounce. According to Kitco, the average price of silver in 2015 was $15.68 an ounce, down from $19.08 an ounce in 2014, or 17.8% lower.

Silver miners made up some of the silver price slide in 2015 with an increase in production. According to the Silver Institute, globlal silver mining production rose 2.1% in 2015 from 868.3 million ounces in 2014 to 886.6 million ounces of silver in 2015.*

Mexico’s silver mining production in 2015 was 189.5 million ounces up 1.7% from 2015. Peru’s silver mining production increased 10.6% in 2015 to 135.9 million ounces.
 

As Louis reported on May 14, 2016:

Keep in mind a lot these countries, maybe not all, collect royalties from the mining companies. It is in their best interest to report accurate numbers in order to collect what they due. Can you imagine the IRS simply accepting your tax return and never auditing any of the tax returns they receive? The same situation would apply to these mining companies. That is not say there isn’t corruption, blind-eyes and other back-door deals being made, but for the most part these numbers are going to be the realm of reality.
If you look at the number for the individual silver mining companies they fall in line with what the countries are reporting. These numbers go to the shareholders and my guess is there are some major shareholders who conduct audits on regular basis. The companies are not the only ones who have a stake in this game.