Potosí Silver Mining Boom (1670s)

Timeline

1. 1672–1675Cerro Rico · PotosíIn the 1670s, Potosí relied on the amalgamation process and mercury supply from the Huancavelica mines to maintain high output. Royal taxes and the quinto mining tax provided Madrid with a steady source of revenue, and the mining city's population and supporting smelting facilities were vast in scale.
2. 1676–1679Acapulco · New SpainPotosí silver was carried via Lima and Panama, or overland, to Acapulco, then shipped across the Pacific to Manila, entering the Chinese and Southeast Asian trade circles—an important link in 17th-century global silver flows.
3. 1670–1679Potosí mining district · AndesTo maintain high output, the colonial authorities continued to conscript Indian mita laborers; high-altitude work and mercury contamination caused extremely high mortality. Although output remained high in the 1670s, the rising cost of mining deeper veins laid the groundwork for the output decline of the 18th century.