In terms of production, Peru ranked second worldwide, after Mexico, in 2019, with a total of 3,860 tons produced; although this volume was 7.2% lower than the 4,160 tons produced in 2018.

In January and February 2020, silver production was higher than that produced in the two similar months of 2019, and as a result of the measures taken to control COVID-19, monthly production declined. Thus, between January and September 2020, 2090 tons of silver were produced, a decrease of 26.5% compared to the same period in 2019.

The website Oroinformación.com reported that silver is one of the most sought-after metals by investors in 2020 and according to the financial blog Lombardi Letter, the factor that explains the upward cycle in the price of silver is the enormous demand for bullion or investment coins that has emerged in the market.

The highest level reached by the silver price during the course of 2020 was US$ 28.88/oz on September 1st; while analysts do not rule out that this level could continue to increase and reach US$ 50/oz, if greater demand persists.

Finally, regarding the location of silver reserves, if we consider the regions of the country, we observe that Ancash and Junin have 52% of the total silver reserves.