The silver price hit a new all-time high this week, breaking above US$58 per ounce for the first time in history.
The metal has now surged by 102% this year, leaving the broader market in its wake.
As a comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) has risen by about 5% during the same period.
Not only that, but silver's record-breaking rally has even eclipsed gold's impressive run in 2025.
All up, the gold price has lifted by about 60% since the start of the year.
However, investors looking for silver exposure on the ASX face a more limited set of options than they do with gold.
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The silver difference
The rocketing gold price has seen some of the leading ASX 200 gold stocks storm higher during the year.
For example, shares in the world's largest gold miner, Newmont Corporation CDI (ASX: NEM), have lifted by about 124% since early January to $137.22 each at the time of writing.
Fellow ASX mining stock Evolution Mining Ltd (ASX: EVN) has fared even better, with its share price jumping by 147% in the same timeframe to $11.97 per share.
Unlike gold, however, there are no dedicated silver mining stocks within the ASX 200.
That said, one practical avenue for exposure to the metal is through the Global X Physical Silver Structured (ASX: ETPMAG) exchange-traded fund (ETF).
This ETF is designed to generate returns that mirror the silver price in Australian dollars, minus fees.
And shares in ETPMAG have jumped by about 87% since the start of the year, reaching $81.54 at the time of writing.
On the other hand, the ASX hosts numerous exploration companies advancing their respective silver projects and capitalising on the booming silver price.
Below we present four ASX mining stocks riding the silver boom in 2025.
Andean Silver Ltd (ASX: ASL)
Andean Silver is working to move its Cerro Bayo silver and gold project in Chile towards production.
So far, the company has defined a resource containing 47 million ounces of silver and 800,000 ounces of gold.
Its current activities are focused on growing the existing resource base through extension and exploration drilling.
Andean shares have surged by 149% since the start of the year, reaching $2.09 per share at the time of writing.
Unico Silver Ltd (ASX: USL)
Unico Silver is advancing two silver and gold projects in Argentina: Cerro Leon and Joaquin.
To date, the company has defined a resource containing 232 million ounces of silver equivalent for the two projects combined.
It aspires to lift this number beyond 300 million ounces through an ongoing exploration drilling campaign.
Unico shares have skyrocketed by 230% just this year, climbing to $0.66 per share at the time of writing.
Silver Mines Ltd (ASX: SVL)
Silver Mines is progressing its Bowden silver project in New South Wales closer to production.
The project already holds a resource containing 164 million ounces of silver.
An optimisation study completed late last year envisaged a 16.5 year mine life at Bowden, producing some 4.25 million ounces of silver per annum over the first ten years.
Management believes the mineralised system to be open at depth, with the project hosting considerable exploration upside potential.
Silver Mines shares have jumped by 169% since the start of the year to $0.22 per share at the time of writing.
Sun Silver Limited (ASX: SS1)
Sun Silver is advancing its Maverick Springs silver and gold project in Nevada.
Management believes Maverick Springs to be the largest undeveloped primary silver project on the ASX, with a resource containing 296 million ounces of silver.
Shares in Sun Silver haven ballooned by 109% so far this year, climbing to $1.34 each at the time of writing.
