Silver is a precious metal that is produced in abundance in Mexico. In fact this country is known as one of the largest producers of this precious metal. Mexico has an incredible silver belt that stretches for about eight hundred kilometers from Chihuahua to Zacatecas.
Ever since the seventeenth century, during the Spanish exploration, billions of ounces of silver have been discovered along the silver belt. As a result of this, many of these old mines are sought after for exploratory purposes. It is for this reason that so many exploration companies have come to this country.
This area is extremely rich in mineral resources and this has been widely known for many years. It was the Spaniards that discovered what is today known as the Sierra Madre silver belt. In this region alone, more than a billion ounces of silver have been recovered in this area. Outside the city of Durango lies the Avino mine which is the main silver deposit.
It is envisaged that 1.1 million ounces of silver will be produced at a mere $7.62 per ounce in a period of thirty six months. The mining company is expecting to become the first multimillion ounce producer ever. There are a number of companies that are actively mining silver on this site.
It is a fact that mines close to the surface have not been explored sufficiently and that there has been no exploration at greater depths. A century ago, high grade veins were hand mined close to the surface. This is why this is so much potential at these structures. Many companies are utilizing modern mining equipment to exploit mines that have produced silver many centuries ago. It is hoped that mining resources will be found and this is based on the old principle that it is best to look for silver where silver has been found in the past.
Eastwards of the Sierra Madre belt lies the transcontinental belt. This area extends through the inside of the country and this is where the the Penasquito Mine is housed. This mine is famous as it a billion ounces of silver has been mined at this mine. There are other mines in the area and it has been reported that four hundred and forty million ounces of silver has been mined in this region.
Vast quantities of silver can be found in porphyry deposits. It does look like this is lead, zinc, gold and silver controlled belt. Mexico will be the area of massive exploration for these kinds of porphyry deposits. Between the Cordero and Pensaquito deposits around 1.5 billion ounces have been located.
Labor costs are less in Mexico than other countries in North America and this is another attraction that draws silver mining companies to this country. The workers have much experience in the operation of the equipment and the mining practices in Mexico. For these reasons, Mexico will be a popular silver mining country for many years to come.