- Precious Metals

StoneX Metals Ltd is a precious metal refining service specializing in silver refining. We are one of only two UK precious metals brokers accredited by LBMA to supply 'Good Delivery' silver bars guaranteed at 99.9+% purity to the London Bullion Market.
We specialize in the refining of silver scrap recycled through silver recovery services and a variety of industrial waste streams, utilizing advanced technology to ensure a pure material with minimal environmental impact.
StoneX silver refining service receives 98%+ high grade silver in various forms from our customers and converts them to 99.99% pure ‘Good Delivery’ silver bars including:
StoneX’s electrolytic silver refining process combines modern technology with a traditional pyrometallurgical operation. Recovering and refining silver begins in a blast furnace, where suitable silver scrap materials are incinerated to ash. The ash is mixed with other silver-bearing materials and heated in a blast furnace. The material reacts to producing a lead-silver alloy with a silver purity of up to 50%. The alloy undergoes preferential oxidation to remove the lead, producing 98%+ high-grade silver and lead oxide (litharge). The litharge is recycled, and the silver is cast as doré beads and sent to the refinery.
The refinery receives the 98%+ silver from the cupel and uses moebius cells to further purify the silver. The cells contain titanium mesh baskets, which act as the anode, into which the bars are placed. The baskets are submerged in an acidified silver nitrate electrolyte. When an electric current is applied to the bath, the silver ions in the alloy migrate and deposit as silver crystals on the cathodes. The crystals are scraped from the cathode, collected, melted, and cast into 1000 troy ounce 99.99% silver ‘Good Delivery’ bars conforming to international standards and stamped as 999.
Silver scrap materials are received and secured, weighed, and given a unique individual identity number, which enables them to be tracked through the preparation and sampling stages.
Securing our customer’s materials and precious metals is paramount and StoneX has the following measures in place:
All incoming materials undergo advanced analysis by our fully equipped and versatile sampling department, utilizing state-of-the-art equipment, to determine silver content.
Samples are assayed in our laboratory using a variety of methods from lead or nickel collection to Inductively Coupled Plasma Optical Emission Spectrometry (ICP OES)
Refining to the highest industry standards, we receive 98%+ high-grade silver and, using electrolysis, convert the silver to 99.99% pure, ensuring exceptional metal quality.
Silver crystals are melted and cast into 1000 troy ounce 99.9% silver ‘Good Delivery’ bars.
StoneX's silver refinery services provide the purification of silver by electrolysis.
Accredited by LBMA to supply 99.9+% pure silver ‘Good Delivery’ bars to the London Bullion Market.
Strict adherence to Environmental Agency and industry regulations across the supply chain helps mitigate our environmental impact.
From recovery and refining to physical silver trading, superior customer service is the primary focus of our world-class global metals team.
From recovery to refining and final product delivery, we offer bespoke silver waste recovery and silver refining solutions for businesses of all sizes.
From physical trading to risk solutions, we are backed by the leading global financial services of StoneX Group, Inc.
The Environment Agency issues an Environmental Permit to which we must adhere in order to manage any associated environmental impacts. To ensure compliance, we monitor our environmental performance internally via our Environmental Management System, and through Environment Agency audits. We are also accredited with ISO 14001:2015, which is internationally recognized standard for measuring EMS.
View our environmental permit, 14001 Certificate and other safety and regulation documents here.
Investing in precious metals carries inherent risks, including market fluctuations, liquidity changes, and regulatory considerations. StoneX is committed to transparency and compliance, providing disclosures to help clients make informed decisions.
'StoneX completes acquisition of JBR Recovery’s recycling and refining business, to deepen the company’s end-to-end metals offering'
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At StoneX Recovery, we specialize in the recovery of silver from a variety of industrial waste streams, ensuring maximum yield with minimal environmental impact.
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Reach
With access to 40+ derivatives exchanges, 180+ foreign exchange markets, nearly every global securities marketplace and numerous bi-lateral liquidity venues, StoneX’s digital network and deep relationships can take clients anywhere they want to go.
Transparency
As a publicly traded company meeting the highest standards of regulatory compliance in the markets we serve; our financials and record of accomplishment are matters of public record. StoneX’s commitment to “doing the right thing over the easy thing” sets us apart in the industry and helps us build respect, client trust and new partnerships.
Expertise
From our proprietary Market Intelligence platform, to “boots on the ground” expertise from award-winning traders and professionals, we connect our clients directly to actionable insights they can use to make more informed decisions and achieve their goals in the global markets.
© 2025 StoneX Group Inc.
All rights reserved. StoneX Metals Limited (“SML”) is part of the StoneX Group. SML is registered in England and Wales with company number 15492387. SML is a processor of materials containing silver, gold and PGMs. The information on this website is not advice nor a recommendation to trade nor an offer to buy or sell any financial product or service. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX Group of companies to enter into any transaction with you. You should perform an independent investigation of any transaction to determine whether it is suitable for you. The information is provided on an ‘as-is’ basis and may contain statements and opinions of the StoneX Group as well as excerpts and/or information from public sources and third parties and no warranty, whether express or implied, is given as to its completeness or accuracy. SML (on its own behalf and on behalf of its directors, employees and agents) disclaims any and all liability as well as any third-party claim that may arise from the accuracy and/or completeness of the information detailed herein, as well as the use of or reliance on this information by you or any third party.