Morocco Ranks Among Global Top Silver Producers as Africa's Only Leader

Morocco has secured a place among the world's largest silver-producing nations, standing out as the only African country on a new global ranking of top silver producers compiled by Visual Capitalist. According to the report, Morocco produced 12 million ounces of silver, equivalent to roughly 373 metric tonnes, placing it among a select group of countries that dominate global silver supply.

The country produced 12 million ounces of silver, accounting for about 95% of the MENA region's production and nearly half of Africa's total output. Morocco's significance extends beyond Africa, as the country dominates silver production across the Middle East and North Africa, accounting for approximately 95% of the region's total output and 86% of its silver consumption.

Morocco also dominates regional silver consumption, with 86% share in the MENA region. It also contributes nearly half of Africa's overall silver production, making it the continent's undisputed leader in the sector and establishing its position as a critical player in precious metals markets.

Globally, however, Morocco remains a relatively small player compared to the industry's heavyweights. Mexico retained its position as the world's largest silver producer, mining 173 million ounces, or roughly one-fifth of global supply. Peru followed with 131 million ounces, while China ranked third with 113 million ounces, demonstrating the massive scale difference between Morocco and global leaders.

Together, North and South America dominate global silver production, contributing 219 million and 246 million ounces, respectively. Despite silver being mined across every major region of the world, output remains heavily concentrated in a handful of countries, making them increasingly important to investors monitoring supply risks and market opportunities in the tightening silver market.

That importance has grown as the silver market continues to tighten. Global demand has exceeded supply for five consecutive years, creating persistent deficits and increasing pressure on existing producers to expand output as industries ranging from electronics to renewable energy continue to drive consumption, and countries with established silver reserves and mining capacity are expected to play an increasingly critical role in meeting future demand.