Top 5 ASX Silver Companies in the Year 2025

As of July 24, 2025, the Australian Securities Exchange (ASX) hosts some of the world's largest primary silver companies. Based on market capitalization, the top 5 ASX-listed silver producers are as follows:

Adriatic Metals (ASX:ADT) – Market Cap: AU$2.05 billion

Adriatic Metals leads the pack with a significant market capitalization of over AU$2 billion. The company's focus is on the Rupice deposit in Vareš, where it released an ore reserve estimate in December 2023, indicating an 18-year mine life and probable reserves of 83 million ounces of silver, 640,000 ounces of gold, 723,000 tonnes of zinc, 457,000 tonnes of lead, 64,000 tonnes of copper, and 24,000 tonnes of antimony. Adriatic Metals achieved commercial production at Vareš on July 1, 2025, after producing its first silver-lead concentrate and zinc concentrate at the Vareš processing plant in February 2024.

Silver Mines (ASX:SVL) – Market Cap: AU$295.14 million

Silver Mines comes in second with a market capitalization of nearly AU$300 million. The company's Bowdens project in Australia represents the largest-known undeveloped silver resource in the country and has proven and probable mineral reserves of 71.7 million ounces of silver.

The remaining top 3 ASX primary silver companies, including Andean Precious Metals (which trades on the TSX), are less prominently reported in the top rankings. However, two other ASX-listed companies, Sun Silver (ASX:SS1) and Unico Silver (ASX:USL), are making waves in the sector.

Other Prominent ASX Silver Producers

Sun Silver (ASX:SS1) has a market cap of AU$157.12 million and a share price of AU$1.00. The company acquired the Maverick Springs silver-gold project from Element79 Gold in May of last year and completed its initial public offering in the same month. Sun Silver's recent exploration program at Maverick Springs yielded promising results, with a highlighted assay of 160 g/t silver equivalent over 70 meters on July 2, 2025.
Unico Silver (ASX:USL) has a market cap of AU$208.02 million and a share price of AU$0.445. The company's flagship project is Cerro Leon, which it expanded through multiple acquisitions in 2024. Unico Silver successfully closed a AU$30 million placement in July 2025, with the proceeds to be used for resource growth, infill drilling campaigns, and technical and feasibility studies.

Silver, with its conductive capacity, is valuable in various industries, including electronics, automobiles, silverware, medicine, photography, and energy transition applications. In 2025, silver performed strongly and broke through the US$39 per ounce mark on July 23 for the first time since 2011.

For the most accurate and reliable ranking, further confirmation from dedicated financial databases or the ASX official listings would be needed to establish the full top 5 ASX primary silver companies. However, based on available data, Adriatic Metals and Silver Mines lead the ASX silver mining sector by market cap as of late July 2025.

[Sources: 1, 2, 3, 4, 5]

Note: This article is for informational purposes only and should not be considered financial advice.

In addition to silver investing and silver production, some individuals might also consider gold investing as both metals are often popular choices in the finance and investing world, such as in real-estate, stock-market, and other industries due to their unique properties and market trends.
For those interested in split investments, it's worth noting that Sun Silver (ASX:SS1) is not only a prominent ASX-listed silver producer, but it also boasts gold reserves from the Maverick Springs silver-gold project, offering a diversified investment opportunity.
As the silver market continues to flourish, with prominent ASX producers like Adriatic Metals, Silver Mines, and Sun Silver leading the way, some experts predict the surge might extend to other industries, such as the finance and investing sectors, potentially encouraging more companies to list on the ASX for silver production.