The London Metal Exchange (LME) have announced that Emirates Global Aluminium (EGA) has become the first LME primary aluminium brand producer to build a digital certificate of analysis (CoA) connection directly from its smelters to the LMEpassport platform – removing the requirement for paper documentation and further innovating the future of aluminium production.
CoAs are key specification and quality assurance documents that must accompany shipments of LME metals into and out of warehouse. Primary aluminium smelters that produce LME brands are integrating their documentation processes digitally with LMEpassport this year to provide the market with greater chain of custody confidence, and to help remove inefficiencies resulting from paper-based processes.
LME Head of Physical Markets, Georgina Hallett, commented: “We are delighted that EGA has made the first direct connection to LMEpassport, taking advantage of a digital solution that in time will entirely replace the need for paper CoAs across all physically delivered LME metals, bringing greater security, traceability and operational efficiency to the trading of physical metal.”
EGA Chief Executive Officer, Abdulnasser Bin Kalban, commented: “Our digital transformation is a core part of achieving EGA's bold aspiration to innovate the future of aluminium production. Leading our sector in digitally providing eCoAs to the LMEpassport platform is just one way we are using big data and analytics to transform the efficiency of our operations and business at EGA.”
From October 2024, all LME-listed aluminium brands will be required to have a corresponding digital CoA record on the LMEpassport platform in order for the metal to be suitable for physical delivery against an LME primary aluminium contract. Over the next two to three years, this requirement will be phased in across all the LME’s physically delivered metals that require CoAs.