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Markets don’t usually hit record highs, risk falling into bearish territory, and spring back to new highs within six months. But that’s what happened in 2025.

In this special mid-year recap, Grayson Roze sits down with David Keller, CMT, to show how disciplined routines, price-based signals, and a calm process helped them ride the whipsaw instead of getting tossed by it. You’ll see what really happened under the surface, how investor psychology drove the swings, and the exact StockCharts tools they leaned on to stay objective. 

If you’re focused on protecting capital, generating income, and sleeping well at night while still capturing the upside, this is a must-watch. Discover which charts deserve your attention now, what to ignore, and how to prep for the back half of 2025. 

This video premiered on July 23, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.

The chart of Meta Platforms, Inc. (META) has completed a roundtrip from the February high around $740 to the April low at $480 and all the way back again.  Over the last couple weeks, META has now pulled back from its retest of all-time highs, leaving investors to wonder what may come next.

Is this the beginning of a new downtrend phase for META?  Or just a brief pullback before a new uptrend phase propels META to new all-time highs?

Today we’ll look at two potential scenarios, including the double top pattern and the cup and handle pattern, and share which technical indicators and approaches could help us determine which path plays out into August.

The double top scenario basically means that the late July retest of the previous all-time high was the end of the recent uptrend phase.  The double top pattern is literally when a major resistance level is set and then retested.  The implication is that a lack of willing buyers means the uptrend is exhausted, and there is nowhere to go but down.

While the 21-day exponential moving average is currently in play for META, I would say that a break below the 50-day moving average could confirm this as the correct scenario.  If that smoothing mechanism does not hold, then the price action would imply less of a pullback and more like the beginning of a real distribution phase.

What is META pulls back but then resumes an uptrend phase, leading META to another new all-time high?  That would result in a confirmed cup and handle pattern, created by a large rounded bottoming pattern followed by a brief pullback.  The key to this pattern is the “rim” of the cup, which sits right at $740 for META.

Given the pullback META has demonstrated so far in July, I would say that a break above the $740 level would basically confirm a bullish cup and handle pattern.  That would suggest much more upside potential for META, as the stock would literally go into previously uncharted territory.

So how can we determine which scenario is more likely to play out?  This is where we need to incorporate more technical indicators into the discussion, as a way to further validate and confirm our investment thesis.

Just to review, I think a break above $740 would confirm a bullish cup and handle pattern.  I would also say that a break below the $680 level, which would represent a move below the 50-day moving average as well as the June swing lows, would basically confirm a bearish double top pattern.

We can also use the Relative Strength Index (RSI) to help determine whether META remains in a bullish trend phase.  During bull phases, the RSI rarely gets below 40, because buyers usually step in to “buy the dips” and keep the momentum fairly constructive.  So if the price would break down, and the RSI would not hold that crucial 40 level, that could mean a bearish outlook is warranted.

Finally, we can use volume-based indicators to assess whether moves in the price are supported by stronger volume readings.  Here I’ve included the Accumulation/Distribution Line, which tracks the trend in daily volume readings over time.  We can see that the high in July resulted in a divergence, as the A/D line was trending lower.  If the A/D line would break below its June and July lows, marked by a dashed red line, that would represent a bearish volume reading for META.

Technical analysis is less about predicting the future, and more about determining the most probable scenarios based on our analysis of trend, momentum, and volume.  I hope this discussion shows how the outlook for META can be easily determined and tracked using the best practices of technical analysis!

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

marketmisbehavior.com

https://www.youtube.com/c/MarketMisbehavior

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

Is the market’s next surge already underway? Find out with Tom Bowley’s breakdown of where the money is flowing now and how you can get in front of it.

In this video, Tom covers key moves in the major indexes, revealing strength in transports, small caps, and home construction. He identifies industry rotation signals, which are pointing to aluminum, recreational products, and furnishings. Tom then demonstrates how to use StockCharts’ tools to scan for momentum stocks in emerging leadership groups — see why SGI tops Tom’s list. He ends with a discussion of post-earnings reactions from major names like GOOGL, TSLA, IBM, and LVS. 

And, of course, Tom wraps every idea with clear chart setups you can act on today. 

This video premiered on July 24, 2025. Click this link to watch on Tom’s dedicated page.

Missed a session? Archived videos from Tom are available at this link.

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Here are some charts that reflect our areas of focus this week at


XLU Leads with New High

Even though the Utilities SPDR (XLU) cannot keep pace with the Technology SPDR (XLK) and Communication Services SPDR (XLC), it is in a leading uptrend. XLU formed a cup-with-handle from November to July and broke to new highs the last two weeks. ETFs hitting new highs are in strong uptrends and should be on our radar.


Metal Mania in 2025

In a tribute to Ozzy, metals are leading the way higher in 2025. The PerfChart below shows year-to-date performance for the continuous futures for 12 commodities. Copper, Platinum and Palladium are up more than 45% year-to-date, while Gold is up 28.38% and Silver is up 35.30%. QQQ is up 10.52% year-to-date, but lagging these metals. The other commodities are mixed.


Multi-Year Highs for Silver and Copper

The next chart shows 11 year bar charts for five metals. Gold broke out in early 2024 and led the metals move with an advance the last 21 months. Silver and copper broke out to multi-year highs. Platinum broke above its 2021 high and Palladium got in the action with an 18 month high. There is a clear message here: metals are moving higher and leading as a group.  


Home Construction Hits Moment of Truth

The Home Construction ETF (ITB) hit its moment of truth as it rose to its falling 40-week SMA. Notice that ITB failed just below this moving average in August 2023. During the 2023-2024 uptrend, the 40-week SMA was more friendly as ITB reversed near this level in October 2023 and June 2024. ITB surged to the falling 40-week SMA in July, but the long-term trend is down and this area could be its nemesis.

Thanks for Tuning in!

See TrendInvestorPro.com for more


LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (FSE: 3WK0) (‘LaFleur Minerals’ or the ‘Company’ or ‘Issuer’) announces that, further to its news release dated July 30, 2025, the Company has revised the offering amounts for its previously announced financings.

LIFE Offering

The Company will now be conducting a non-brokered private placement offering of a minimum of 3,125,000 units of the Company (the ‘Units‘) at a price of $0.48 per Unit for minimum gross proceeds of approximately $1,500,000 (the ‘Minimum LIFE Offering‘) and a maximum of 6,000,000 Units for maximum gross proceeds of approximately $2,880,000 (the ‘Maximum LIFE Offering‘ and together with the Minimum LIFE Offering, the ‘LIFE Offering‘). Each Unit will consist of one (1) common share in the capital of the Company (each a ‘Common Share‘) and one (1) Common Share purchase warrant (a ‘Warrant‘) granting the holder the right to purchase one (1) additional Common Share (a ‘Warrant Share‘) at a price of $0.75 at any time on or before 24 months from the Closing Date (defined below). The Warrants will be subject to an accelerated expiry upon thirty (30) business days’ notice from the Company in the event the closing price of the Common Shares on the Canadian Securities Exchange (the ‘CSE‘) is equal to or above a price of $0.90 for fourteen (14) consecutive trading days any time after closing of the Offering.

The gross proceeds from the LIFE Offering will be used for the advancement of exploration initiatives at the Company’s Swanson Gold Project and for operational purposes at the Beacon Gold Mill, in addition to working capital and general corporate expenses.

The Units will be offered for sale pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by CSA Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, to purchasers resident in Canada, excluding Quebec, and other qualifying jurisdictions.

The securities offered under the LIFE Offering will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an amended and restated offering document (the ‘Offering Document‘) related to the LIFE Offering that can be accessed under the Issuer’s profile at www.sedarplus.ca and at the Company’s website at www.lafleurminerals.com. Prospective investors should read this Offering Document before making an investment decision.

Charity Flow-Through (FT) Offering

The Company will now be conducting a concurrent non-brokered private placement of a minimum of 1,449,276 charity flow-through units of the Issuer (‘Charity FT Units‘) at a price of $0.69 per Charity FT Unit for minimum gross proceeds of approximately $1,000,000 (the ‘Minimum Concurrent Private Placement‘) and a maximum of 3,750,000 Charity FT Units at a price of $0.69 per Charity FT Unit for maximum gross proceeds of approximately $2,587,500 (the ‘Maximum Concurrent Private Placement‘, and together with the Minimum Concurrent Private Placement, the ‘Concurrent Private Placement‘) (the Concurrent Private Placement together with the LIFE Offering is referred to herein as the ‘Offering‘). Each Charity FT Unit will consist of one Common Share to be issued as a ‘flow-through share’ within the meaning of the Income Tax Act (Canada) and the Taxation Act (Québec), and one Warrant which shall have the same terms as the Warrants comprising the Units issued in the LIFE Offering.

The gross proceeds from the issuance and sale of the Charity FT Units will be used on the Company’s Swanson Gold Project to incur ‘Canadian Exploration Expenses’ as such term is defined under subsection 66.1(6) of the Income Tax Act (Canada) and will qualify as ‘flow-through mining expenditures’ as defined in subsection 127(9) of the Income Tax Act (Canada) (or would so qualify if the references to ‘before 2026’ in paragraph (a) of the definition of ‘flow-through mining expenditure’ in subsection 127(9) of the Tax Act were read as ‘before 2027’ and the references in paragraphs (c) and (d) of that definition to ‘before April 2025’ were read as ‘before April 2026’). The qualifying expenditures will be incurred on or before December 31, 2026, and will be renounced to the subscribers with an effective date no later than December 31, 2025, in an aggregate amount not less than the gross proceeds raised from the Common Shares comprising the Charity FT Units.

All securities issued in connection with the Charity FT Offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

The closing of the Offering is expected to occur on or about August 29, 2025 (the ‘Closing Date‘), or such other earlier or later date as the Company may determine.

The Company has also agreed to pay qualified finders and brokers a cash commission of 7.0% of the aggregate gross proceeds of the Offering and such number of broker warrants (the ‘Broker Warrants‘) as is equal to 7.0% of the number of Units and Charity FT Units sold under the Offering. Each Broker Warrant will entitle the holder to purchase one Common Share at an exercise price equal to $0.75 for a period of 24 months following the Closing Date.

This news release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’), and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent an exemption from registration under the U.S. Securities Act and applicable U.S. state securities laws. ‘United States’ and ‘U.S. person’ are as defined in Regulation S under the U.S Securities Act.

About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (FSE: 3WK0) is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d’Or, Québec. Our mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Deposit and the Beacon Gold Mill, which have significant potential to deliver long-term value. The Swanson Gold Project is approximately 18,304 hectares (183 km2) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings which make up the Swanson Gold Project. The Swanson Gold Project is easily accessible by road allowing direct access to several nearby gold mills, further enhancing its development potential. Lafleur Mineral’s fully refurbished and permitted Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold projects.

ON BEHALF OF LaFleur Minerals INC.

Paul Ténière, M.Sc., P.Geo.
Chief Executive Officer
E: info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes certain statements that may be deemed ‘forward-looking statements.’ All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Forward-looking statements in this news release include, without limitation, statements related to the closing of the Offering and the anticipated use of proceeds from the Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263109

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

Matt Geiger, managing partner at MJG Capital Fund, shares his thoughts on the resource sector, honing in on the health of the junior miners.

In his view, after a decade of hit-or-miss performances, the best is yet to come.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Homerun Resources (TSXV:HMR,OTC:HMRFF,FSE:5ZE) is advancing a three-phase strategy to establish itself as a leading global supplier and processor of high-purity silica, transforming this critical material into high-value products for the renewable energy and advanced materials sectors.

  • Phase 1: Secured the Belmonte Silica District and established a logistics pathway.
  • Phase 2: Advancing construction of processing facilities and solar glass production capacity.
  • Phase 3: Expanding into downstream verticals, including energy storage, perovskite solar technology, and AI-driven energy solutions.

Homerun is positioning itself across multiple high-growth industries where demand is accelerating, supply remains constrained, and pricing is strong. Brazil currently imports all of its solar glass and advanced silica components, creating a significant domestic supply gap.

Global solar glass demand is projected to grow from US$13 billion in 2024 to nearly US$197 billion by 2034 (31 percent CAGR), while high-purity quartz (HPQ) is critical to achieving the efficiency and purity standards required for advanced applications.

Supported by industrial tariffs and tax incentives in Brazil, Homerun’s **full-stack model — from silica sand through to finished solutions into downstream verticals such as energy storage, perovskite solar technology, and AI-driven energy solutions.

Company Highlights

  • Vertically Integrated Growth Model: Multiple profit centers across HPQ silica, advanced materials, solar glass and perovskite PV on glass, energy storage and AI-driven energy management solutions.
  • Flagship Resource Advantage: Exclusive 40-year leases with the government of the State of Bahia over the Santa Maria Eterna silica sand deposit in Brazil with over 63.9 Mt combined measured and inferred at >99.6 percent silicon dioxide (SiO₂) and low iron impurities, enabling direct feed into solar glass.
  • Latin America’s First Solar Glass Facility: Planned 365,000 tpa plant adjacent to the resource, supported by LOIs with Brazil’s largest solar module manufacturers and a large competitive COGS and subsequent pricing advantage over Chinese imports.
  • HPQ Processing Plant Near-Term: 120,000 tpa initial capacity for ultra-pure (>99.99 percent SiO₂) silica, with rapid scalability and low relative capex and projected ROI.
  • Breakthrough Energy Storage Partnership: Collaborating with the US Department of Energy’s NREL on a thermal energy storage system using Homerun’s silica with ancillary revenue from purified product output.
  • Government-backed Execution: MOU with Bahia State Government and Municipality of Belmonte includes a 64.5-hectare land grant, tax incentives, expedited permitting, infrastructure upgrades and workforce training.
  • Strong Financing Pipeline: Advancing funding discussions with Brazil’s development bank, innovation agency, institutional investors and announced plan for a UK main board listing.

This Homerun Resources profile is part of a paid investor education campaign.*

Click here to connect with Homerun Resources (TSXV:HMR) to receive an Investor Presentation

This post appeared first on investingnews.com

There are many factors to consider when investing in silver-focused stocks, including the silver price outlook, the company’s management team and whether its assets are in one of the top silver-producing countries.

Location can be key, and knowing the top silver-producing countries can help investors made sound decisions. For example, high silver production in a particular nation might indicate mining-friendly laws or high-grade deposits.

So which country produces the most silver? In 2024, Mexico was once again the world’s leading silver-producing country, followed by China and Peru.

Increasing silver demand in recent years hasn’t been met by increases in mine production; global silver production totaled 25,000 metric tons in 2024, pulling back slightly during the period. As the majority of the world’s silver production comes as a byproduct from the mining of gold, copper, lead and zinc, silver production has largely been tied to fortunes in those other markets rather than its own fundamentals.

With prices of the metal rising to their highest level in more than a decade, the top silver countries could benefit.

Below is an overview of the countries that are already driving the mining output in 2024. Statistics are based on the latest report from the US Geological Survey, along with supporting data from Mining Data Online (MDO) and the UN Comtrade database.

The USGS reports silver production in metric tons while most companies report in ounces. As a point of reference, 1 metric ton of silver is equivalent to 35,274 ounces of the metal.

1. Mexico

Silver production: 6,300 metric tons

Mexico is the world’s largest silver producer with production of 6,300 metric tons of the precious metal in 2024, nearly double second-place China.

Silver has been an important commodity for the country for hundreds of years, with evidence of trade dating back to the 1500s. In 2024, the mining sector in Mexico contributed $312.46 billion pesos to the Mexican economy, and silver alone made up $68.24 billion pesos of that total.

The states of Zacatecas, Durango and Chihuahua account for 80 percent of the country’s total output of the metal. The country’s largest silver mine is Newmont’s (TSX:NGT,NYSE:NEM) Penasquito mine in Zacatecas. In 2024, the mine produced 33 million ounces (935.5 metric tons) of silver and is expected to deliver more than 28 million ounces in 2025.

Mexico is also home to Fresnillo (LSE:FRES), the world’s largest silver producer. In 2024, the company produced 56.3 million ounces (1,496 metric tons) of silver between its mines, which are all located in the country.

2. China

Silver production: 3,300 metric tons

China produced 3,300 metric tons of silver in 2024, a decline from the 3,400 metric tons it produced in 2023. According to Shanghai Metal Market (SMM), the drop off is part of a longer trend that is owed to lower silver grades as older mines begin to deplete reserves of the metal.

Most silver is produced as a byproduct metal from the mining of lead, copper, zinc and gold. Of the few silver primary operations in the country, Silvercorp Metals’ (TSX:SVM,NYSEAMERICAN:SVM) Ying mining district is the largest, hosting seven underground mines and two processing plants.

In its fiscal year ended March 31, 2025, the Ying mining district produced 6.95 million ounces (197 metric tons) of silver, up 17 percent year-over-year. The increase was supported in part by an extension to the number two mill in November 2024.

3. Peru

Silver production: 3,100 metric tons

Peru produced 3,100 metric tons of silver in 2024, making it the world’s third largest silver country. Its 2024 production was down from 3,200 metric tons in 2023, in part due to declining grades and social unrest.

Overall, the mining industry plays a significant role in the Peruvian economy, accounting for 9.5 percent of its GDP. In 2024, total mineral exports from the country were tallied at US$49 billion, with copper making up more than half of the value of trade and silver accounting for approximately US$1.3 billion.

Silver production in Peru is primarily a byproduct of copper mining. The largest operation in the country is the Antamina mine, a joint venture between BHP (ASX:BHP,NYSE:BHP,LSE:BHP), Glencore (LSE:GLEN,OTC Pink:GLCNF), Teck (TSX:TECK.B,TSX:TECK.A,NYSE:TECK) and Mitsubishi (TSE:8058). In 2024, the mine produced 11.36 million ounces of silver.

4. Bolivia

Silver production: 1,300 metric tons

Bolivia’s silver production totaled 1,300 metric tons in 2024, a slight decline from 2023’s 1,350 metric tons, tying it with Poland for the fourth highest silver producing country. The resource industry makes up a substantial portion of Bolivia’s exports. Silver exports alone generated US$1.2 billion for Bolivia’s economy in 2024.

Bolivia’s largest mine is the San Cristóbal silver-lead-zinc mine in Potosí, which produced 16.8 million ounces of silver in 2024, up 33 percent year-over-year. Private company San Cristobal Mining acquired the mine from Sumitomo (TSE:8053) in early 2023.

Another significant silver operation in Bolivia is Andean Precious Metals’ (TSXV:APM,OTCQX:ANPMF) San Bartolomé silver-gold operation. San Bartolomé’s production has steadily decreased from 5.47 million ounces in 2020 to 4.32 million ounces in 2024, during which time it transitioned from mining to processing material from its fines disposal facility and third parties.

4. Poland

Silver production: 1,300 metric tons

Silver production in Poland was 1,300 metric tons in 2024, just below the 1,320 metric tons it registered the previous year. While its output comes in significantly below the top three silver countries, Poland holds the world’s third highest silver reserves at 61,100 metric tons.

In total, the mining sector accounts for 7 percent of Poland’s GDP. In 2024, silver exports rose to 1,328.27 metric tons from 1,256.25 metric tons in 2023 and represented a value of US$1.2 billion.

KGHM Polska Miedz (FWB:KGHA) is Poland’s top silver company and one of the world’s top silver producers, producing the metal as a by-product at its Polish copper mines, including the Polkowice-Sieroszowice mine. According to the World Silver Survey, KGHM produced 1,341 metric tons of silver in 2024 between its Polish and international operations.

6. Chile

Silver production: 1,200 metric tons

Chile produced 1,200 metric tons of silver in 2024, down from the 1,260 metric tons in 2023.

Mining is a significant contributor to the Chilean economy. In 2024, the sector accounted for 14 percent of the nation’s GDP and was a driving force behind the country’s overall 5.6 percent growth rate.

With 85 percent of Chilean silver output coming as a byproduct of copper mining, declines in recent years have been owed to production issues and low prices in the copper sector. According to Reuters, copper output from state-run mining company Codelco fell to a 25 year low in 2023 and struggled to recover.

At Chuquicamata, one of the company’s largest operations, silver production gradually declined from its peak of 10.91 million ounces in 2019 to 8.14 million ounces in 2023, before plunging to 5.7 million ounces in 2024.

6. Russia

Silver production: 1,200 metric tons

Russia produced 1,200 metric tons of silver in 2024, a slight decrease from the 1,240 metric tons it produced the previous year.

Mangazeya Plus is the country’s largest silver producer from its portfolio of mines in the country, including its largest silver operation, the Dukat mine, which produced an estimated 7.7 million ounces of silver in 2023.

Prior to 2024, the owner of these assets was Kazakhstan-based Polymetal International, now named Solidcore Resources. However, due to operational challenges associated with sanctions against Russian metals exports, the company sold all of its Russian mining assets to Mangazeya Plus.

8. United States

Silver production: 1,100 metric tons

The United States produced 1,100 metric tons of silver in 2024, an increase from the 1,020 metric tons mined the previous year. Silver is mined in 12 states, with Alaska and Idaho topping the list of regional producers.

Production of silver came from four silver-primary mines, with additional amounts produced as a byproduct of gold and base metals at 31 other operations.

The largest silver operation in the United States is Hecla Mining’s (NYSE:HL) Greens Creek silver mine in Southern Alaska. In 2024, the mine produced 8.48 million ounces (240 metric tons) of silver, as well as several other metals as by-products of its silver operations.

In terms of economic contribution, silver contributed US$960 million to the US economy in 2024, with the majority of the metal destined for domestic markets, with just 140 metric tons being exported.

9. Australia

Silver production: 1,000 metric tons

Australia produced 1,000 metric tons in 2024, just 30 metric tons fewer than registered in 2023.

According to the Reserve Bank of Australia, mining holds the largest share of the nation’s GDP with 12.2 percent, and resources make up 59.2 percent of the country’s total exports. However, like the United States, the majority of silver is used domestically for manufacturing and investment.

Australian silver production also comes as a byproduct of mining other metals like gold, copper and other base metals. South32’s (ASX:S32,OTC Pink:SHTLF) Cannington lead-silver-zinc mine is by far the largest silver operation in Australia, producing 12.67 million ounces of silver in 2024.

9. Kazakhstan

Silver production: 1,000 metric tons

Kazakhstan produced 1,000 metric tons of silver in 2024, up from 985 metric tons in 2023. Output in the country has risen significantly since 2020, when it produced just 435 metric tons of the precious metal.

The largest silver mining operation in the country is the Kazzinc Complex, a 70/30 joint venture between Glencore and the state-run Tau-Ken Samruk. In 2024, the mine produced 3.34 million ounces of silver, a sizable increase from the 2.73 million ounces produced in 2023.

Overall, the mining sector’s contribution to the Kazakh economy has exploded in recent years. According to the USGS Kazakhstan 2022 Mineral Yearbook released in March 2025, mineral exports were pegged at US$84.6 billion in 2022, a 40.2 percent increase compared to 2021 and 68 percent of the country’s total exports.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

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