Leading Canadian high-grade iron ore mining company, Baffinland Iron Mines Corporation, recently reached 99% paperless across its export shipments using ICE CargoDocs electronic bills of lading (eBLs) – becoming the first company in the metals and minerals commodity segment to achieve this record.

Nunavut-based Baffinland started its paperless journey using ICE CargoDocs to digitally manage its paper BL and letter of indemnity (LOI) drafting, review and approvals processes. The company began its transition to eBLs in 2H 2023, swiftly reaching 50% eBL by end 2023 and achieving 99% eBL by end 2024 – marking a near-100% increase year over year.

By achieving full paperless adoption, Baffinland is realizing substantial time and cost savings through instantaneous online document transfer, whilst leveraging ICE CargoDocs to enhance its trade visibility and transparency, ensure security for its now fully digitized documentation processes, as well as eliminate the use of discharge LOIs (which can lead to significant legal risks).

Commenting on the major milestone, Jorgen Nyhus, Head of Shipping – Bulk Ore Carriage, Baffinland Iron Mines Corporation, said: “ICE Digital Trade’s platform and electronic bills of lading have helped streamline our operations. By digitizing the process, we’ve seen noticeable improvements in efficiency and a reduction in the need for paper copies, which has cut down on both administrative workload and environmental impact. The switch to eBLs has improved safety and security, addressing many of the risks that come with paper bills of lading. Overall, this technology has been a positive step forward in how we manage our logistics and documentation."

Katerina Anagnostara, Director, Customer Success, ICE Digital Trade, said: "Congratulations to Baffinland and its customers for achieving this remarkable result. This full transition to eBLs sets a new standard for rapid change management enabling fully paperless processes in the mining industry. We at ICE Digital Trade are proud to support all parties involved, as we continuously work towards adding value to their businesses.”