Vedanta Aluminium becomes the first Indian Smelter to digitally connect to LME Passport platform
10th October 2024
- The platform improves traceability, accessibility, and transparency in shipments by eliminating reliance on paper documentation
- This advancement further optimizes Vedanta’s process of ensuring product quality and compliance, thereby elevating customer experience
New Delhi, October 10, 2024: The London Metal Exchange (LME), the global hub for trading industrial metals and setting benchmark prices, has onboarded Vedanta Aluminium, India’s largest aluminium producer, as the first smelter in the country to successfully implement the LME Passport program. This makes Vedanta Aluminium the first smelter in the India to digitally link its metal quality analysis system with the LME and the fifth primary aluminium producer globally to establish a direct digital connection for Certificates of Analysis (CoA) submission from its smelters to the LME Passport platform.
The integration of the LME Passport is a pivotal step forward in streamlining Vedanta Aluminium’s operations. The platform automates the submission of CoAs, thereby ensuring quality assurance and compliance for metal shipments, while enhancing traceability, accessibility, and transparency throughout the process. LME Passport’s digital platform revolutionizes the way metal documentation is managed, eliminating the need for paper-based processes and significantly reducing the risk of errors and inefficiencies. By automating key tasks and providing a centralized digital record, it streamlines operations throughout the entire metal supply chain, from production to delivery.
Commenting on this achievement, Sunil Gupta, Chief Operating Officer (COO), Vedanta Aluminium, said: “Vedanta Aluminium’s successful implementation of the LME Passport underscores our commitment to adopting cutting-edge digital technologies that enable us to meet the highest global standards in metal quality assurance. This initiative further strengthens our position as a leader in the aluminium industry, ensuring our customers receive the highest quality products with the utmost transparency.”
The LME is the world’s central hub for trading industrial metals, setting the global benchmark price for aluminium. The exchange has mandated for all primary aluminium smelters to digitize their CoA submission processes by October 2024. Vedanta Aluminium’s early adoption of the LME Passport positions it to meet these evolving industry standards while reinforcing its leadership in innovation, operational efficiency, and sustainability. This achievement not only strengthens Vedanta’s commitment to excellence but also bolsters India’s standing in the global aluminium market.
Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.37 million tonnes in FY24. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 1st in the S&P Global Corporate Sustainability Assessment 2023 world rankings for the aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.
About Vedanta Limited:
Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programmes with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies have been featured in Dow Jones Sustainability Index, and was conferred Frost & Sullivan Sustainability Awards 2020, Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2022. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.
For more information, please visit www.vedantalimited.com
About Vedanta Aluminium Business:
Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.37 million tonnes in FY24. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 1st in the S&P Global Corporate Sustainability Assessment 2023 world rankings for the aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.
For more information, please log on to www.vedantaaluminium.com
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Disclaimer:
This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
