** Shares of South32 S32.AX gain as much as 5.8% to A$4.77, its highest level since early March 2023

** The diversified miner, also the owner of Cannington mine - one of the world's largest producers of silver, has gained on the back of the global silver rally** Spot silver has gained over 3% to $87.88/oz, recovering from recent sell-off GOL/** Other silver miners follow, Sun Silver SS1.AX up 3.5%, Silver Mines SVL.AX rises 7.8%** Broader Australian mining sub-index .AXMM up 3.1% vs benchmark .AXJO 0.6% rise .AX

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))