Ruqayyah Snyder
Silver has been mined in Australia since the mid-1800s and the country is recognised as one of the world's top producers of the metal. Silver is rarely mined on its own, but rather as a by-product of gold, copper, zinc, and uranium mining. The largest silver mine in Australia is the Cannington underground mine in northwest Queensland, which also excavates lead and zinc. Silver is also found in South Australia, New South Wales, and Queensland.
| Characteristics | Values |
|---|---|
| Silver mines in Australia | Cannington, Tritton, Golden Grove, Hellyer, Hilton, Mount Isa, Broken Hill |
| Largest silver mine in Australia | Cannington underground mine in north-west Queensland |
| Owner of the largest silver mine | South32, a diversified resource company spun out from BHP in 2015 |
| Silver production in Australia in 2022 | 1,400 tonnes |
| Silver production in Australia in 2017 | 1,200 million tonnes |
| Silver reserves in Australia | 87,000 million tonnes |
| Silver's chemical symbol | Ag |
| Silver's colour | White |
| Silver's texture | Soft, lustrous |
| Silver's thermal and electrical properties | Highest thermal and electrical conductivity of any metal |
| Silver's optical property | Highest reflectivity of any metal |
| Silver's malleability | Malleable |
| Silver's ductility | Ductile |
| Silver's use in currency | Silver coins are struck at the Perth Mint |
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What You'll Learn
Silver mines in Australia
Silver is a soft, lustrous transition metal with the highest thermal and electrical conductivity of any metal. It is also the best reflector of visible light known to man, making it a very useful metal for thousands of products. Silver is a big part of Australia's economy and global positioning. In 2017, Australia was the world's seventh-largest producer of silver, and in 2022, it was the fifth-largest producer. Despite being relatively low on the world production ranking, Australia is believed to have the world's largest reserves of silver deposits.
The largest silver mine in Australia is the Cannington underground mine in northwest Queensland. It is owned by South32, a newly formed division of previous owners BHP Billiton. The mine opened in 1997, and the first small amounts of ore were processed in 1999. In 2005, it excavated a record 1,247 tonnes of silver in one year. In addition to silver, Cannington also excavates lead and zinc. It is expected to have a lifespan of 25 years, with about four years of viable mining left as of 2023.
There are 61 silver mines in Australia, according to GlobalData's mines and projects database. Here are some of the largest silver mines in Australia, other than Cannington:
- Mount Isa Zinc Mine in Queensland, owned by Glencore Plc.
- Broken Hill North Mine in New South Wales, owned by Shenzhen Zhongjin Lingnan Nonfemet.
- Rosebery Mine in Tasmania, owned by China Minmetals.
- Dugald River Project in Queensland, owned by China Minmetals.
- Hilton Mine in northwest Queensland, which has been held in abeyance since 2002.
Silver is rarely mined on its own, and only around a quarter of all the ounces of silver mined in 2018 came from dedicated silver mines. Instead, it is usually one of several precious metals that are mined in batches. The majority of Australian silver is a by-product of uranium, gold, zinc, and copper mining.
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Silver as a by-product
Silver is rarely mined in its own right. In fact, the majority of Australian silver is a by-product of uranium, gold, zinc, and copper mining. Silver is also Australia's fifth-largest commodity by production output. This means that the feasibility of silver mining is dependent on the market conditions of these other metals. For example, the Hilton Mine in northwest Queensland has been in temporary suspension since 2002, awaiting favourable market conditions to improve the feasibility of the remaining deposits.
Large amounts of unprocessed ore are sent to smelters or refiners to be purified. The largest Australian silver smelter and refinery is Port Pirie in South Australia. Silver is also refined at gold refineries in Perth, Kalgoorlie, and Melbourne, with the Perth Mint striking silver coins.
Silver is a white, soft, lustrous transition metal that exhibits the highest thermal conductivity, electrical conductivity, and reflectivity of any metal. Silver is also the best reflector of visible light known to man, making it a key component in mirrors. Its malleability and ductility also make it a very useful metal for thousands of products, including jewellery, silverware, solder, and brazing alloys, as well as batteries and electrical contacts.
Silver has played a role in Australia since the mid-1800s. The country's first metal mine, Wheal Gawler, was a silver-lead mine developed in South Australia in the 1840s. Other early Australian silver discoveries include the Broken Hill deposit in New South Wales and the Mount Isa deposit in Queensland.
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Silver production
Silver has been part of Australia's mining industry since the mid-1800s, with the country's first metal mine, Wheal Gawler, being a silver-lead mine developed in South Australia in the 1840s. Silver is a lustrous transition metal with the highest thermal and electrical conductivity and reflectivity of any metal. It is also ductile and malleable, making it a valuable metal for various products.
Australia is one of the world's top producers and exporters of resources, and mining continues to play a significant role in shaping the country's economy and global position. In 2022, Australia was the world's fifth-largest producer of silver, with an estimated production volume of 1,400 tonnes, a slight increase from 2021. The majority of Australian silver is a byproduct of uranium, gold, zinc, and copper mining, with only a quarter of all ounces of silver mined in 2018 coming from dedicated silver mines. The largest silver mine in Australia is the Cannington underground mine in northwest Queensland, which also excavates lead and zinc.
Other significant silver mines in Australia include Mount Isa in Queensland, discovered in 1923, and Broken Hill in New South Wales, discovered in 1883. These two deposits are among the country's early silver discoveries and are still producing today. The other top silver mines in Australia are the Tritton, Golden Grove, and Hellyer mines. Silver is also refined at gold refineries in Perth, Kalgoorlie, and Melbourne, with the Perth Mint producing silver coins.
According to estimates, there are approximately 530,000 million tonnes of silver left underground globally, with Australia having the second-largest share of remaining reserves at 87,000 million tonnes.
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Silver exports
Silver is found in various parts of Australia, with the country boasting the largest share of the world's economic silver resources. In 2022, Australia was the world's fifth-largest producer of silver, and while it has dropped in the rankings over the years, it still holds a significant position in the global silver market.
The majority of Australian silver is a byproduct of mining other precious metals such as uranium, gold, zinc, and copper. Silver is rarely mined solely on its own, and its feasibility is dependent on the commodity prices of these other metals. The largest silver mine in Australia is the Cannington underground mine in northwest Queensland, which also excavates lead and zinc. This mine has been a significant contributor to Australia's silver exports, with a record production of 1,247 tonnes of silver in 2005.
Australia's silver exports are refined and sent to various countries. About 25% of Australia's mine output is refined to silver metal and primarily exported to Japan. The remaining silver is exported as lead bullion to the United Kingdom for further refining and extraction. Australia's silver exports are also refined at gold refineries in Perth, Kalgoorlie, and Melbourne, with the Perth Mint producing silver coins.
The Port Pirie lead smelter and refinery in South Australia is the most prominent producer of refined silver in the country. This refinery processes lead concentrates from various mines, including Broken Hill, Mt Isa, and Hilton. Silver ingots are also produced at the Olympic Dam mine as a residue of copper refining.
With extensive reserves and a history of mining, Australia continues to play a crucial role in the global silver market, contributing significantly to silver exports and influencing the industry's dynamics.
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Silver's role in Australia's economy
Silver has played a significant role in shaping the world's economies for thousands of years, from ancient Egypt to modern America. In Australia, silver was first mined in the 1840s at Wheal Gawler, the country's first metal mine, which was a silver-lead mine in South Australia. Today, silver is still found in many parts of Australia, with the country being one of the world's top producers and exporters of resources.
In 2022, Australia was the world's fifth-largest producer of silver, with an estimated output of 1,400 tonnes. The country is believed to have the world's largest reserves of silver deposits, even though it ranks relatively low in global production. The majority of Australian silver is a byproduct of mining other precious metals such as uranium, gold, zinc, and copper. Silver is rarely mined on its own, and its feasibility is dependent on the commodity prices of these other metals.
The largest silver mine in Australia is the Cannington underground mine in northwest Queensland, which is the country's largest dedicated silver producer. Other top silver mines in Australia include Mount Isa in Queensland, Tritton, Golden Grove, and Hellyer. Silver is also refined at gold refineries in Perth, Kalgoorlie, and Melbourne, with the Perth Mint producing silver coins.
Silver has a variety of uses, including jewellery, silverware, solder and brazing alloys, batteries, electrical contacts, and other household and industrial items. It is also used in renewable energy technologies, such as solar panels, electric vehicles, and electronics. Silver is expected to play an increasingly important role in these growing sectors, with demand for the metal projected to rise steadily.
In addition to its industrial uses, silver has traditionally been used as a currency and store of value. It has been used as a hedge against inflation and economic uncertainty, and its price can be influenced by global forces and foreign exchange rates. Silver prices can be volatile and are influenced by supply and demand dynamics, as well as speculation and investor sentiment.
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Frequently asked questions
Silver is found in many places across Australia, including Queensland, South Australia, and New South Wales.
Some of the major silver mines in Australia include Cannington, Mount Isa, Tritton, Golden Grove, and Hellyer.
The largest silver mine in Australia is the Cannington underground mine in northwest Queensland. It is owned by South32, a diversified resource company spun out from BHP in 2015.
In 2022, approximately 1,400 tonnes of silver were mined in Australia, making it the world's fifth-largest producer that year.
