KGHM is one of the largest silver producers in the world. In 2025 they produced 1,347 metric tons. Despite plans to invest $8.55 billion, their silver production per year is expected to decline to 1,290 metric tons. This is the same story around the world. Silver mines are in decline, meanwhile demand is increasing. Globally the market has 6 years in a row of silver production being less than demand. Above ground reserves are being depleted to fill the gap.(Wall Street Mav)