SILVER

Indian Minerals
Yearbook 2013
(Part- II : Metals & Alloys)
52nd Edition
SILVER
(FINAL RELEASE)

GOVERNMENT OF INDIA
MINISTRY OF MINES
INDIAN BUREAU OF MINES
Indira Bhavan, Civil Lines,
NAGPUR 440 001
PHONE/FAX NO. (0712) 2565471
PBX : (0712) 2562649, 2560544, 2560648

E-MAIL : cme@ibm.gov.in
Website: www.ibm.gov.in

May, 2015

15-1

SILVER

15 Silver

ilver is one of the five noble metals. Its

brilliant white colour, malleability and resistance
to atmospheric oxidation has enhanced its value as a
highly desired precious metal which is used in many
industrial applications. Apart from its monetary and
decorative uses, its highest known electrical
conductivity amongst all metals has increased its
potential in modern age applications; viz, for printed
electric circuits, coating for electronic conductors
and in alloys of gold and copper for electrical contacts.
Its chloride and iodide are light-sensitive and
hence used in photographic material. These two major
uses have contributed to increase supply of scrap
of silver contained products.
In India, there are no native silver deposits
except the small and unique Bharak deposit of
silver in Rajasthan. It occurs generally with lead,
zinc, copper and gold ores and is extracted as a
by-product from electrolysis or chemical methods.
Silver is recovered as a co-product as well
as a by-product in the country. Silver was recovered in
the past as a co-product in gold refining at KGF Complex
and Hutti Gold Mines in Karnataka, as a by-product in
smelting and refining of lead, zinc and copper
concentrates at Chanderiya and Debari smelters in
Rajasthan, Tundoo and Moubandar (Ghatsila)
smelters in Jharkhand and at Visakhapatnam smelter in
Andhra Pradesh. The present production of silver
comes from Chanderiya lead-zinc smelter of HZL and
from gold refinery of HGML. In addition, Hindalco
extracts silver as a by-product during smelting of
imported copper concentrates at Dahej in Gujarat.
The installed capacities for recovery of
silver at various plants are: HCL 9.9 tpy, HZL
518 tpy as per Annual Report- 2012-13 and Hindalco
150 tpy. HZL has plans to increase the ore production
capacity at Sindesar Khurd mine to 3.75 million tpy in
the next six years. Anode mud contains 40-50%
manganese, 5-15% lead and 300 to 1000 ppm of silver
among other metals. A trial was conducted to recover
lead and silver from anode mud at Dariba mine. The Hot

Gas precipitator contains 400 ppm silver, a plant is being

installed and was expected to commission in 2013. The
work on development of the greenfield Kayad leadzinc mine was also in progress as per schedule.

RESOURCES
As per the UNFC system, the total resources
of silver ore in the country as on 1.4.2010 were
estimated at about 466.98 million tonnes. Out of
these, 187.56 million tonnes were placed under
reserves category and 279.42 million tonnes under
the 'remaining resources' category.
The total resources of silver in the country
as on 1.4.2010 in terms of metal were estimated at
27,628.25 tonnes, of which 8,039.57 tonnes are
under reserves and 19,588.68 tonnes are under the
'remaining resources'.
By States, Rajasthan accounted for about
87% resources in terms of ore, Jharkhand 5%,
Andhra Pradesh 4% and Karnataka 2%. Madhya
Pradesh, Uttarakhand, Odisha, Meghalaya, Sikkim,
Tamil Nadu and Maharashtra together shared 2%
ore resources (Table - 1).

PRODUCTION
Silver is recovered as a by-product from lead
and zinc concentrates, copper slime and as a coproduct of gold refining.
During the year 2012-13, the production of silver
at 3,74, 046 kg increased by 81% as compared to the
previous year due to higher recovery of silver at
Chanderiya. The production of silver from gold refining
was 145 kg in 2012-13 as against 202 kg in 2011-12. One
private sector and a public sector undertaking also
reported production of silver during 2012-13.
In addition, Hindalco Industries Ltd reported
recovery of 56,766 kg and 60,523 kg silver from
imported copper concentrates in 2011-12 and
2012-13 respectively.

15-2

Table 1 : Reserves/Resources of Silver as on 1.4.2010

(By Grades/States)
(In tonnes)
Reserves
Proved
STD111

Remaining resources

Probable
STD121

Total
(A)

Feasibility
STD211

STD122

46109414
1591.85

Andhra Pradesh
Ore
Metal

Jharkhand
Ore
Metal

Karnataka
Ore
Metal

8681065
2.67

Madhya Pradesh
Ore
Metal

STD221

17655843 123793411 187558668

1949.65 4498.07
8039.57

Measured
STD331

Indicated
STD332

Inferred
STD333

Reconnaissance
STD334

Total
(B)

Total
resources
(A+B)

STD222

3375000
270.00

1048700
27.60

5404862
54.30

11140000
1045.40

86286000 172171729
6212.66 11978.72

279426291 466984959
19588.68 27628.25

16950000
128.13

16950000 16950000
128.13
128.13

23840000
5.22

23840000 23840000
5.22
5.22

8681065
2.67

69462
0.48

314150
2.92

383612
3.40

9064677
6.07

2096000
150.61

1120000
9.25

3216000
159.86

3216000
159.86

Maharashtra
Ore
Metal

235000
0.23

235000
0.23

235000
0.23

Meghalaya
Ore
Metal

880000
19.80

880000
19.80

880000
19.80

(Contd.)

SILVER

15-3

All India : Total

Ore
Metal

Pre-feasibility

Table - 1 (Concld.)
Reserves
Proved
STD111

Remaining resources

Probable
STD121

Total
(A)

Feasibility
STD211

STD122

Pre-feasibility
STD221

Measured
STD331

Indicated
STD332

Inferred
STD333

Reconnaissance
STD334

Total
Total resources
(B)
(A+B)

STD222

Odisha
Ore

960500

119000

670000

1749500

1749500

Metal

27.34

3.40

34.17

64.91

64.91

17220000 123729631 178377980

3375000

88200

5216400

9240000

81580000 128042579

270.00

0.26

50.42

883.80

Rajasthan
Ore
Metal

37428349

1934.40

4498.03

8021.61

Ore

435843

63780

499623

Metal

15.25

0.04

15.29

6022.18

11757.93

300000

27.60

227542179 405920159

18984.59

27006.20

150000

450000

949623

13.80

41.40

56.69

Sikkim

Tamil Nadu
Ore

330000

460000

790000

790000

Metal

15.87

26.68

42.55

42.55

Ore

1600000

1400000

390000

3390000

3390000

Metal

134.00

4.20

0.39

138.59

138.59

Uttarakhand

Figures rounded off.

SILVER

15-4

1589.18

SILVER

Table 2 : Principal Producers of Silver, 2012-13

Location of the plant
Name & address of the producer

Name of
Plant

State

District

M/s Hindustan Zinc Ltd,

Yashad Bhavan,
Udaipur 313 001.

Chanderiya

Rajasthan

Chittorgarh

The Hutti Gold Mines Co. Ltd,

Hutti, Dist - Raichur,
Karnataka - 548 115.

Hutti

Karnataka

Raichur

Table 3 : Production of Silver, 2010-11 to 2012-13

(By States*)
(Qty in kg; value in L'000)
2010-11

2011-12

2012-2013(P)

State

India

Qty

Value

Qty

Value

Qty

Value

148303

5438695

207144

11 5 6 1 7 7 2

374046

21233064

Karnataka

221

8627

202

11495

145

7986

Rajasthan

148082

5430068

206942

11550277

373901

21225078

*Excludes by-product recovery of silver by Hindalco Industries Ltd. at Dahej, Gujarat from imported copper
concentrates.

Table 4 : Production of Silver*, 2011-12 and 2012-13

(By Sectors/States/Districts)
(Qty in kg; value in L'000)
2011-12

2012-13(P)

State/District

India
Public sector
Private sector

Quantity

Value

Quantity

Value

207144

11 5 6 1 7 7 2

374046

21233064

202

11495

145

7986

206942

11550277

373901

21225078

Karnataka

202

11 4 9 5

145

7986

Raichur

202

11495

145

7986

206942

11 5 5 0 2 7 7

373901

21225078

206942

11550277

373901

21225078

Rajasthan
Chittorgarh

*Silver as a by-product:
(i) In Karnataka, it is recovered at Raichur while refining of gold at Hutti and Uti gold mines.
(ii) In Rajasthan, it is recovered at Chanderiya, Rajpura Dariba lead-zinc smelters of HZL.
(iii) E x c l u d e s b y - p r o d u c t r e c o v e r y o f 5 6 , 7 6 6 k g a n d 6 0 , 5 2 3 k g s i l v e r f r o m i m p o r t e d c o p p e r
2011-12 and 2012-13, respectively.

15-5

concentrates in

SILVER

Table 5 : World Reserves of Silver

(By Principal Countries)

WORLD REVIEW
The total reserves of silver is estimated at
520,000 tonnes. Australia, Peru, Poland, Chile,
China and Mexico are the main countries having
silver reserves (Table-5). Major part of the

(In tonnes of silver content)

Country

Reserves

World Total (rounded)

reserves is associated with base metals, such as

copper, lead and zinc.

520000

Australia

88000

Bolivia

22000

Mexico, China, Peru, Australia, Russia, Bolivia

and Poland are the main producers of silver. The

Canada

7000

Chile

77000

global primary as well as by-product mine output

slightly increased to 25,161 tonnes of contained

China

43000

Mexico

37000

Peru

87000

Poland

85000

USA

25000

Other countries

50000

metal in 2012 from 23,422 tonnes in the previous

year. World mine production of silver is given in
Table-6.

Australia
Australias lead, silver, and zinc mines
were predominantly based on ore bodies with

Source: Mineral Commodity Summaries, 2014.

zinc as the major component and lead and

silver as byproducts. An exception was BHP

Table 6 : Mine Production of Silver

(By Principal Countries)

Billitons Cannington underground mine, in

the State of Queensland, where lead and silver
were major components and zinc was a
minor component.

(In tonnes of metal content)

Country

2010

2011

2012

23417

23422

25161

694

702

750

Australia

1880

1725

1757

World Total
Argentina

Bolivia
The country was estimated to have produced

Bolivia

1259

1216

1207

5% of the worlds total mine output of silver in

2012. The leading mine in Bolivia was the San

Canada

591

572

705

Chile

1287

1291

1194

Cristobal Mine. Production of silver in

concentrates took place in both the lead circuit

China

3085

3232

3639

and the zinc circuit at the mine. In 2012, the San

Cristobal Mine was reportedly the fifth ranked

552

651

963

Mexico

4411

4778

5358

Peru

3640

3419

3480

Poland

1183

1167

1149

Russia*

1145

1134

1400

Chile

USA

1270

1120

1055

The country was estimated to have been the worlds

seventh ranked producer of silver (mine output)

Other countries

2420

2415

2504

Kazakhstan*

producer of silver in the world and the sixth ranked

producer of lead and zinc.

contributing in 2012 about 4.7%, of world production.

Source: World Mineral Production, 2008-12.

* - Smelted and / or refinery production.

15-6

SILVER

Imports

FOREIGN TRADE
Exports
There were no exports of silver ores and
concentrate in 2012-13. Exports of silver in
2012-13 increased considerably to 74 tonnes from
41 tonnes in the preceding year. Exports were
mainly to Belgium and the USA. Besides, 563 kg
silver-clad base metals were also exported during
2012-13 (Tables-7 and 8).

Imports of silver were 2,015 tonnes in 2012-13

against 4,661 tonnes in the previous year. Imports
were mainly from the UK (21%), Hong Kong &
Republic of Korea (14% each), Chinese Taipei/
Taiwan & China (10% each) and UAE (3%).
Imports of silver-clad base metals were 639 kg in
2012-13 as against 1174 kg in the previous year.
The USA, Denmark, UK and Italy were the major
importers (Tables-9 and 10).

Table 7 : Exports of Silver

(By Countries)
2011-12

2012-13

Country

All Countries

Qty

Value

Qty

Value

(t)

(L000)

(t)

(L 0 0 0 )

41

1296694

74

2563173

USA

11

474803

20

956075

Belgium

15

327006

28

617423

414553

++

162

329310

Canada

44034

51134

Hong Kong

52778

36565

Sweden

24187

22087

Turkey

++

257

++

19056

Australia

248885

++

18573

Iran

41088

++

15994

Other countries

83494

82403

Switzerland
UAE

15-7

SILVER

Table 8 : Exports of Silver-clad Base Metals

(By Countries)
2011-12

2012-13

Country

All Countries

Qty

Value

Qty

Value

(kg)

(L000)

(kg)

(L 0 0 0 )

12055

33044

563

4616

1781

20361

532

4331

Indonesia

30

277

Singapore

10274

12683

USA

Other countries

Table 9 : Imports of Silver

(By Countries)
2011-12

2012-13

Country

All Countries

Qty

Value

Qty

Value

(t)

(L000)

(t)

(L 0 0 0 )

4661

247042322

2015

107973660

UK

891

47114906

423

21532239

Hong Kong

289

15835142

284

14675814

Korea, Rep.of

196

9921121

282

14253592

Chinese Taipei/Taiwan

533

29207476

208

10507522

China

435

23353616

195

10064997

Peru

13

668123

5709848

UAE

151

8139763

66

3424368

301882

65

3341567

Finland

10

513556

60

3056538

Turkey

34

1806159

49

2512593

2103

110180578

375

18894582

Singapore

Other countries

15-8

SILVER

Table 10 : Imports of Silver-clad Base Metals

(By Countries)
2011-12

2012-13

Country
Qty
(kg)

Value
(L 0 0 0 )

Qty
(kg)

11 7 4

32270

639

8230

454

2931

216

2917

180

2525

15

456

57

1385

UK

163

1134

Thailand

146

Turkey

15

95

39

501

21

666

28382

All Countries
USA
Denmark
Italy

Germany
France
Other countries

FUTURE OUTLOOK
India is the largest importer and largest
consumer of silver in the world. The average
domestic consumption of silver in the country on
an average is about 3,000 tonnes per annum.
Considering the current pattern of utilisation
of silver in the country and the anticipated

Value
(L 0 0 0 )

increase in the GDP, the future demand for

silver is likely to exceed 6,000 tonnes per annum
by 2017 as per the report of the Working Group
on Mineral Exploration and Development (Other
than Coal & Lignite) for the XII Five Year Plan
(2012-2017).

15-9