Metalor

What Metalor does

Metalor is a Swiss-headquartered multinational precious metals group operating three business divisions: Refining, Advanced Coatings, and Electrotechnics. Founded in 1852 and headquartered in Marin, Switzerland, the company is a wholly owned subsidiary of Japan's Tanaka Kikinzoku Group (acquired 2016). Metalor refines gold, silver, platinum, and palladium from primary mined and secondary recycled sources through five LBMA Good Delivery refineries located in Switzerland, the United States, Hong Kong, China, and Singapore, supported by 12 globally accredited laboratories (including the only ISO 17034-accredited reference materials producer in the precious metals industry). The company holds LBMA and LPPM referee status, allowing it to audit other refiners, and maintains a broad portfolio of industry certifications (ISO 9001/14001/17025/17034/45001, RJC Chain of Custody and COP, UN Global Compact, Ecovadis).

The company serves more than 5,000 customers across mining and recycling, banking and investment, electronics, electrical materials, chemicals and catalysts, renewable energies, laboratory services, and watch/jewellery/decorative segments. Distinctive technology assets include BullionProtect (a SICPA-partnered security ink and QR-code authentication system), the Geoforensic Passport (a blockchain-based scientific tool co-developed with the University of Lausanne for gold provenance), and the proprietary digital Trading Portal for electronic precious metals transactions. Metalor manufactures silver-based electrical contacts, powders, strips, fine-wires, rivets, and multistripes for power distribution, automotive, and electronics customers.

Metalor earns revenue through refining and processing fees on metals throughput, markups on refined precious metal product sales (bullion, alloys, specialty products), laboratory assaying and testing services, and trading and logistics fees through four major global trading sites. The company operates with a B2B enterprise direct-sales motion and quote-based pricing, supported by approximately 1,500 employees across more than 20 countries, a balance sheet exceeding $1 billion, equity above $540 million, cash reserves above $250 million, and over $2 billion in trading financing capacity.

Name

Metalor

Legal name

Metalor Technologies SA

Website

https://metalor.com

Company type

Private

Founded year

1852

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Metalor is a Swiss precious metals refiner and manufacturer, subsidiary of Japan's Tanaka Kikinzoku, operating five LBMA-accredited refineries and 12 labs serving 5,000+ mining, banking, jewelry, electronics, and industrial customers globally.

Ownership category

akta.pro rank

Product category

Precious Metals Refining and Manufacturing

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141), Primary Metal Manufacturing (331), Metal Service Centers and Other Metal Merchant Wholesalers (423510), Metal Coating, Engraving (except Jewelry and Silverware), and Allied Services to Manufacturers (332812)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Precious Metals Smelting & Refining (IMAKAEAE)

akta.pro secondary industries

Precious Metals Minting & Bullion Products (IMAKAEAJ), Precious Metals & Catalyst Materials (PGM Catalysts) (IMAEAIAN), Electroplating & Metallization Chemicals (Cu/Ni/Au plating, additives) (IMAEAKAK), Precious Metals Bullion & Concentrates Trading (Gold, Silver, PGM) (IMAKAJAD), Metal Melting & Secondary Smelting/Refining (Recycled Feedstock Producers) (EUAIAJAJ)

Keywords

• Precious metals refining
• Bullion investment products
• Electrical contact materials
• Advanced precious metal coatings
• Precious metal catalysts

Headquarters

HQ city

Marin

HQ country

Switzerland

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Metal Processing and Refining Fees: Processing fees charged for refining precious metals including gold, silver, platinum, and palladium. Revenue is consumption-based, driven by volume of metals processed.
2. Metal Product Sales: Markup revenue on sale of refined precious metal products including bullion, alloys, and specialty metal products to industrial customers.
3. Laboratory Services: Specialized assaying and testing services for precious metals analysis. The company operates 12 laboratories globally providing analytical services.
4. Trading and Logistics Services: Global trading infrastructure and logistics services supporting precious metals transactions across 4 major trading sites.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Metalor refines gold, silver, platinum, and palladium from primary and secondary sources across five LBMA-certified refineries on three continents, and produces investment-grade bullion bars, silver-based electrical contacts, advanced precious metal coatings, and fine chemical catalysts for industrial customers. The company also offers assaying services through 12 accredited laboratories and reference materials production. Operations are organized into three business groups: Refining, Advanced Coatings, and Electrotechnics.

Product overview

Metalor operates as a global precious metals company with three core business groups: Refining, Advanced Coatings, and Electrotechnics. The Refining division offers evaluation and refining services, bullion and investment products (cast bars, minted bars, Good Delivery bars), BullionProtect security features, and the Geoforensic Passport for origin verification. The Electrotechnics division provides silver-based electrical contacts through vertically integrated manufacturing of powders, strips, wires, rivets, tips, and assemblies, serving power distribution and industrial applications. Advanced Coatings delivers plating, powders, flakes, and chemical solutions for electronics, automotive, and renewable energy sectors. Supporting services include 12 accredited laboratories, ISO 17034 reference materials, blockchain-based chain of custody tracking, and a digital Trading Portal for precious metals transactions. The company holds 5 LBMA Good Delivery refineries worldwide and serves mining, recycling, banking, industrial, and investment customers across multiple sectors.

Differentiator

Problem solved

Functional benefit

Brands

• BullionProtect: Security feature for bullion protection developed jointly with SICPA - high-security ink solution applied to precious metal products to prevent counterfeiting
• Metalor Check
• Blockchain for Chain of Custody
• Geoforensic Passport

Products and services

• Precious Metals Refining Refining services for gold, silver, platinum, and palladium from primary and secondary sources, executed through five LBMA-certified refineries on three continents using proprietary processes. Targets mining companies, recyclers, and industrial customers.
• Bullion and Investment Products Investment-grade cast and minted bars in gold, silver, platinum, and palladium produced at LBMA/LPPM accredited sites, supplied with security features and authentication certificates to banks, traders, and investment firms.
• Good Delivery Bars High-purity large precious metal bars, including 400-ounce LBMA Gold Good Delivery bars, meeting standard weight and dimensions for major international physical settlement markets and central or private bank reserves.
• Electrotechnics Products Development and production of silver-based electrical contacts for switchgear devices including breakers and contactors, covering powders, strips, wires, fine-wires, rivets, tips, multistripes, and assemblies, serving power distribution, process controls, transportation, and electrical appliances sectors.
• Advanced Coatings Precious metal plating, powders, flakes, chemicals, compounds, and plating equipment serving electronics, aeronautics, automotive, decorative, photovoltaics, pharmaceuticals, and biocides markets.
• Chemicals and Catalysts Precious metal salts and solutions, fine chemical and pharmaceutical catalysts based on platinum, palladium, iridium, and ruthenium, supplied as grains, powders, sponges, and through spent catalyst recycling services.
• ISO 17034 Reference Materials Accredited producer of certified reference materials in precious metals, offering pre-cut high-purity reference materials for cupellation, ICP-OES, and potentiometry, as well as custom-made reference materials.
• Accredited Laboratory Services Twelve laboratories worldwide providing precious metals evaluation, quality control, and R&D support, with the Swiss headquarters holding ISO 17025 and ISO 17034 accreditations and referee status for LBMA and LPPM.
• Digital Trading Portal Electronic trading platform enabling precious metals trading five days a week, with live market prices, financial account statements, invoices, and pool account management in multiple currencies for established enterprise customers.

Quantifiable outcome

• 12 global laboratories providing comprehensive assaying services
• +1 more outcomes

Named customers3 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• SICPAcoreTechnology or IntegrationSecurity solutions partnership for BullionProtect, Metalor's proprietary security system for precious metal products. SICPA provides security ink and authentication technology to ensure product integrity and prevent counterfeiting.
• Gannon & ScottcoreStrategic or Co-development PartnerPending acquisition target. Gannon & Scott is an ISO 17025 accredited precious metals refiner serving the recycling and electronics industries. The acquisition will expand Metalor's recycling capabilities and North American presence pending regulatory approval.
• Swiss Better Gold AssociationminorStrategic or Co-development PartnerIndustry association partnership supporting responsible gold sourcing from artisanal and small-scale mining. Metalor participates in initiatives to improve traceability and ethical sourcing in gold supply chains.
• University of LausanneminorStrategic or Co-development PartnerAcademic research partnership focused on precious metals science, sustainability, and responsible sourcing practices. Collaboration supports innovation in refining technology and environmental practices.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Heraeus Precious Metals: Heraeus is a German-headquartered precious-metals and technology group operating one of the world's largest precious-metals refineries. It is directly comparable to Metalor across LBMA-accredited gold/silver refining, bullion products, precious-metals trading, and industrial precious-metals applications (electronics, automotive, renewable energy).
• Tanaka Kikinzoku Kogyo K.K. Tanaka Kikinzoku is the Japanese parent of Metalor and itself one of the world's leading precious-metals refiners with LBMA/LPPM referee status. Operates overlapping refining, bullion, and industrial precious-metals product lines; serves as the natural Asia-Pacific comparable for Metalor's portfolio.
• MKS PAMP GROUP: MKS PAMP is a Geneva-based LBMA-accredited precious-metals refiner and bullion producer with strong Asia-Pacific distribution. Comparable to Metalor across LBMA-accredited gold/silver refining, investment-bar production, and precious-metals trading, with a more concentrated retail-bullion focus.
• Valcambi: Valcambi is a Swiss LBMA-accredited precious-metals refiner (now owned by Global Gold Refineries) operating a Balerna-based refinery. Directly comparable to Metalor's refining, minted-bar production, and Swiss-ethical-sourcing positioning.
• Asahi Refining: Asahi Refining is a North-American LBMA-accredited precious-metals refiner (precious-metals division of Asahi Holdings). Comparable to Metalor across gold and silver refining, with primary geographic overlap in North America and similar industrial-customer focus.

Broad incumbents

• Johnson Matthey: Johnson Matthey is a UK-listed specialty chemicals and precious-metals group with a major precious-metals refining business and PGM-catalysts franchise. Comparable to Metalor in precious-metals refining, PGM catalysts, and chemical/catalyst customer segments, though Johnson Matthey operates a broader materials science portfolio.
• Umicore: Umicore is a Belgian materials-technology group with significant precious-metals refining and recycling operations, alongside automotive catalysts and recycling. Directly comparable to Metalor's refining and PGM-catalyst activities, with broader exposure to battery-materials and recycling end markets.
• Aurubis: Aurubis is a European copper and non-ferrous-metals smelter/refiner that recovers precious metals (gold, silver, PGM) as byproducts of copper refining. Comparable to Metalor's non-ferrous metals smelting/refining operations and byproduct-precious-metals recovery model, though with a copper-centric core business.

Regional players

• Royal Canadian Mint: Royal Canadian Mint is a Canadian Crown corporation refining precious metals and producing bullion coins and bars. Comparable to Metalor's bullion and refining operations but North-America-focused and government-owned, with limited overlap in industrial/electrotechnics.

Emerging players

• Aura Minerals / Sabin Metal Corp (advanced precious-metals catalysts/recycling): Sabin Metal Corp is a US-based precious-metals refiner and catalyst-recovery specialist focused on spent-catalyst recycling and secondary-feedstock recovery. Comparable to Metalor's Chemicals & Catalysts segment and recycling initiatives such as the pending Gannon & Scott acquisition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/metalor-technologies-sa

Compliance22 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Metalor