KGHM with the largest silver mine in the world again

KGHM stayed in the first place in the list of “world’s largest silver mines” in the World Silver Survey 2023. In the “largest silver producers,” the company came in second.

“This excellent result was earned by the KGHM staff - a group of excellent specialists. This confirms that technology and investment projects strengthen us in the position of a global leader of this industry. We invest a lot of money in the development of KGHM, a company that is conquering foreign markets and looking for new mining opportunities in Poland. Silver is characterized by the brightest color, one in which I see the future of KGHM, said Tomasz Zdzikot, the CEO of KGHM Polska Miedź S.A.

In 2022, the KGHM Group produced 1,327 tons of silver.

For many years, KGHM has been one of the largest silver producers in the world. 16% of the company’s revenue comes from silver sales.

KGHM sells silver in the form of pigs and pellets. The metal is supplied in the form of pellets to factories that manufacture materials for jewelry and to metal works that manufacture silver-containing alloys. Silver in the form of pigs goes mainly to financial institutions.

Silver production at KGHM

KGHM’s silver production takes place at the Głogów Smelter, where the Precious Metals Division has been operating since 1993. It was created specifically to recover the precious metals - silver and gold - present in the copper ore. They are found in the anode slurry called “black mud,” which is formed during the electrorefining of copper. Cathode silver with silver content of more than 99.99 percent is converted to metallic silver in the form of pellets packed in 25-kilogram bags and pigs weighing about 1,000 troy ounces or about 31.1 kilograms.

A prestigious report

The “World Silver Survey” report is one of the most important annual reports that publishes a list of the largest silver producers. It is prepared by a team of global metals market analysts.

Properties of silver

Due to its unique physical properties, silver is used in jewelry, electronics, electrical engineering, medicine, optics, energy production, and many other sectors. It also has applications in cutting-edge technologies, including in infrastructure, the automotive industry, and photovoltaics. Overall, industry consumes about 40 percent of the world’s silver production. It is also a valued investment precious metal.

Interesting facts about silver:

• In nature, silver is rarely found as a pure metal - it occurs most often in the form of compounds with ores of copper, lead, zinc, or gold;
• It has unique physical properties - it is ductile and malleable, with a shiny sheen;
• It is characterized by the highest electrical and thermal conductivity;
• As early as in ancient times, it was valued as a precious metal for jewelry making and as currency;
• Today, silver is used in the production, among other things, of electrical and electronic equipment, filmstrips and panels, mirrors, and musical instruments;
• Thanks to its antibacterial properties, it has even found application in medicine, in the production of surgical instruments and medicines.