Australians may be disappointed by our showing at the London Olympics, but the nation's newest silver producer is more than happy.
Cobar Consolidated Resources produced 135kg of the precious metal during the past fortnight as Australian Olympians picked up a swag of silver medals.
"We have commenced production and we are well on the way to becoming Australia's largest producers of silver bullion," managing director Ian Lawrence told the Diggers and Dealers mining conference in Kalgoorlie on Tuesday.
"We're certainly pleased a lot of athletes have won a lot of silver medals."
While many Olympians and spectators were disappointed with second place, Mr Lawrence said the very best athletes were actually all wearing silver.
"Even today, gold medals are mostly silver," he said.
Cobar, which operates the Wonawinta silver project in western NSW, expects to produce about 1.8 million ounces of silver next year.
"As Australia's newest silver producer in an Olympic year when Australia is capturing more silver than gold I thought it would be worth reflecting on Australia's silver heritage," Mr Lawrence said.
"Silver is produced in globally significant quantities in Australia and now Cobar Resources are adding to that production profile."