StoneX completes purchase of JBR Recovery’s recycling and refining business

New York-based StoneX Group Inc., through its subsidiary StoneX Metals Ltd., has completed its acquisition of U.K-based JBR Recovery Ltd.’s precious metal recovery and refinery business, deepening StoneX’s metals offering by allowing it to own a significant part of the supply chain to meet growing global demand for recycled silver.

StoneX Group operates a global financial services network that connects companies, organizations traders and investors to the global market ecosystem through digital platforms, end-to-end clearing and execution services.

JBR processes materials containing silver, gold and other platinum group metals (PGM), specializing in recycling secondary or waste materials to produce “Good Delivery” silver bars, which are acceptable in the settlement of a Loco London Precious Metals Market contract.

JBR is one of only two U.K. companies accredited by the LBMA to supply “Good Delivery” silver to the London Bullion Market, producing more than 250 metric tons of silver per year. The original business was founded in Birmingham’s Jewellery Quarter and has ties to the precious metal refining and recovery industry since the 18^th century.

StoneX says the purchase will expand its precious metals business to include owning and refining precious metals for the first time, enabling end-to-end management of metal trading from point of supply, production and authentication through to the sale and delivery to the end client.

Michael Skinner, global head of Metals at StoneX, says, “This acquisition marks a historic moment for the StoneX group and its metals business. The acquisition of JBR is testament to the continued commitment of StoneX in furthering our offering in this market and providing our clients with a full end-to-end service and building our metals ecosystem. We will be working closely with the JBR team to ensure we continue to build on its strong reputation and hundreds of years of service in this market.”

Simon Meddings, managing director, JBR Recovery, refers to the acquisition by StoneX as “a momentous chapter in our history.” He adds that it will aid further business growth and opportunity, saying, “There are many synergies between both companies, and I look forward to working closely with the StoneX Metals team over the coming months.”