StoneX purchases ‘good delivery’ silver supplier

In a move to deepen StoneX’s end-to-end metals offering, the New York-based company has purchased JBR Recovery. JBR Recovery specializes in refining 1,000-ounce silver good delivery bars sold under London Bullion Market Association (LMBA) regulations.

StoneX Global Head of Metals Michael Skinner said, “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.”

JBR is one of two companies accredited by the LMBA for the supply of good delivery silver to the market and produces more than 250 tonnes of silver each year. The original business was founded in Birmingham’s Jewelry Quarter and has ties to the precious metal refining and recovery industry since the 18th century.

JBR Recovery Managing Director Simon Middings said, “JBR has grown from strength to strength over recent years and the acquisition by the StoneX group is a momentous chapter in our history. The acquisition will aid further business growth and opportunity, enabling the offering of an enhanced service and product line to existing and new global customers. There are many synergies between both companies, and I look forward to working closely with the StoneX Metals team over the coming months. We are proud to be part of the StoneX group.”

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