Introduction
Silver mining plays a significant role in the economies of both Canada and the United States. With recent price surges in silver, interest in mining of the precious metal has heightened as well. While Mexico leads as the global top producer, Canada and the U.S. account for a notable portion of North American output. (It may surprise some that neither ranks in the global top three.) Looking ahead to 2035, silverinstitute.org expects silver production to rise modestly globally to meet industrial demand [1]. In both the U.S. and Canada, future output will likely depend on expansions of existing operations, new exploration projects, and policy support, particularly after the U.S. added silver to their critical minerals list (in November 2025). This report discusses present and future projects in the Canadian and U.S. silver mining industry.
Current Silver Mining in Canada: Major Mines
Silver mining in Canada is concentrated in provinces with rich polymetallic deposits, such as Ontario, Quebec, Manitoba, Yukon, and British Columbia. The table below outlines the five largest operational silver mines as of 2024, based on production capacity and output.
Note: Sources from 2024 were used because, as of mid-January 2026, final silver production figures from 2025 have not yet been published by key authorities such as the U.S. Geological Survey (USGS) or Natural Resources Canada. Annual reports (i.e. Silver Institute’s World Silver Survey 2026 and USGS Mineral Commodity Summaries 2026) are typically released between late January and April, covering the prior year’s actuals with preliminary estimates.
| Mine Name | Province / Territory | Operator | Key Notes |
| Keno Hill Mine | Yukon Territory | Helca Mining | High grade silver district; primary silver producer [2] |
| Kidd Creek Mine | Ontario | Glencore | Byproduct silver from copper-zinc operations [2] |
| LaRonde Mine | Quebec | Agnico-Eagle | Gold mine with significant silver byproduct [2] |
| Lalor Mine | Manitoba | Hudbay Minerals | Zinc-gold mine producing silver as a byproduct [2] |
| Rainy River Mine | Ontario | New gold Inc. | Gold mine with silver output [2] |
Other notable operations include those in the Cobalt-Gowganda region of Ontario, home to junior miners such as Nord Precious Metals at the Castle River mine [3] and Kuya Silver’s Silver Kings Project near Cobalt [4]. Overall, Canadian production in 2025 was projected as comparable to 2024 levels.
Current Silver Mining in the United States: Major Mines
U.S. silver is primarily a byproduct of lead-zinc, gold, and copper mining. Key mining states include Alaska, Nevada, Idaho, and Utah. The table below outlines the five largest silver-producing mines, as of 2024.
| Mine Name | State | Operator | Key Notes |
| Greens Creek Mine | Alaska | Helca Mining | Primary silver-zinc-lead mine; a top U.S. producer [5] |
| Red Dog Mine | Alaska | Teck Resources | Zinc-lead mine with silver byproduct [5] |
| Rochester Mine | Nevada | Coeur Mining | Open-pit silver-gold mine [5] |
| Lucky Friday Mine | Idaho | Helca Mining | Underground silver-lead-zinc mine [5] |
| Kennecott Mine | Utah | Rio Tinto | Copper mine with silver byproduct [5] |
Other operations include those by Pan American Silver [6] and Endeavor Silver, though their primary focus is outside the United States [6]. For 2025, no major operational disruptions or expansions were widely reported for U.S. silver mines.
Canada: Silver Mining Production Projection
According to several sources, Canadian silver production is expected to grow through expansions and new projects, with over 40 % of mines adopting green technologies by 2026 [7]. Natural Resources Canada states that output could increase due to 504 major natural resource projects planned or under construction through 2034, some involving silver [8].
According to sources, likely future mines are as follows:
- Expansions in Yukon (i.e. Keno Hill district explorations by Metallic Minerals [9]
- Ontario’s Cobalt-Gowganda region: new tailings and expansions at Castle Silver Mine and Silver Kings Project [10]
- Potential new sites in British Columbia and Manitoba via Hudbay’s ongoing developments [11]
- Overall, there are very few entirely new greenfield projects; instead, the focus is on revitalizing historic sites [12]
United States: Silver Mining Production Projection
Sources state that U.S. silver production is projected to increase by 12 % by 2026, fueled by new technologies and silver’s new (U.S.) critical mineral status [13]. Likely future mines and expansions are as follows:
- California: Calico Project advancement by Apollo Silver, a large undeveloped primary silver deposit [14]
- Colorado: LaPlata copper-silver-gold project explorations by Metallic Minerals [15]
- General expansions at existing sites like Greens Creek and Lucky Friday, with exploration updates from companies such as Pan American Silver [16]
Conclusion
Current silver mining production in Canada and the United States is centred on established polymetallic districts, with production stable but secondary to other metals. In the next decade, sources indicate that both countries are poised for moderate growth through technological advancements, policy incentives, and exploration in traditional silver mining areas. However, realizing this potential requires addressing supply chain vulnerabilities and environmental concerns. Ongoing monitoring of market deficits and demand from renewables will shape the sector’s trajectory.
Sources:
[1] Silverinstitute.org, https://silverinstitute.org/global-silver-market-forecast-to-remain-in-a-sizeable-deficit-in-2025/
[2] mining-technology.com, https://www.mining-technology.com/marketdata/five-largest-silver-mines-canada/
[3] web.i2massociates.com, https://web.i2massociates.com/resource_detail.php?resource_id=14107
[4] kuyasilver.com, https://kuyasilver.com/project/the-silver-kings-project
[5] mining-technology.com, https://www.mining-technology.com/marketdata/five-largest-silver-mines-the-us/
[6] panamericansilver.com, https://panamericansilver.com/operations/ and silverinstitute.org
[7] farmonaut.com, https://farmonaut.com/mining/silver-canada-top-2026-silver-mines-mining-trends
[8] natural-resources.canada.ca, https://natural-resources.canada.ca/science-data/data-analysis/natural-resources-major-projects-planned-under-construction-2024-2034
[9] metallic-minerals.com, https://metallic-minerals.com/news/2024/metallic-minerals-initiates-2024-exploration-programs-at-la-plata-and-keno-silver-projects/
[10] webi2massociates.com, https://web.i2massociates.com/resource_detail.php?resource_id=14107 and kuyasilver.com, https://kuyasilver.com/project/the-silver-kings-project
[11] hudbayminerals.com, https://hudbayminerals.com/canada/default.aspx
[12] canadianminingreport.com, https://www.canadianminingreport.com/blog/is-it-too-late-to-invest-in-canadian-silver-mining-stocks
[13] farmonaut.com, https://farmonaut.com/mining/usa-silver-silver-mining-usa-7-trends-for-2026
[14] apollosilver.com, https://apollosilver.com/silver-added-to-usgs-2025-list-of-critical-minerals/
[15] metallic-minerals.com, https://apollosilver.com/silver-added-to-usgs-2025-list-of-critical-minerals/
[16] panamericansilver.com, https://panamericansilver.com/news/pan-american-silver-provides-2025-year-end-exploration-update/
Gold Proficiency
Disclaimer:
This summary is based on publicly available information from various company and government sources. It is provided for educational and informational purposes only. Though it has been taken to ensure accuracy, we make no representations or warranties of the reliability of the information.
Forward-looking statements, projections and estimates are subject to risks as outlined in the original company disclosures. Readers should consult official texts for full context. Nothing in the articles constitute forecasting, investment or financial advice. Please seek guidance from a qualified professional before making any investment decisions.