From losses to profits: VALCO sets sights on 1.5 million tonnes of alumina

The Volta Aluminium Company Limited (VALCO) has reported a provisional profit of USD 1.3 million within the first nine months of 2026, signalling progress in its efforts to restore operations and strengthen its financial position. The Ghanaian aluminium producer has also outlined an ambitious expansion target of processing 1.5 million tonnes of alumina within the next decade, supported by an estimated USD 4 billion investment.

VALCO CEO Dr Robert Makila Sambian said the company was now focused on strategic capital investment to achieve its long-term production ambitions. He shared the update during the Ministry of Lands and Natural Resources' Progress Report Series, an initiative through which agencies under the ministry present updates on their activities and performance to the media.

Investment planned for long-term expansion

According to Dr Sambian, achieving the 1.5 million-tonne target over the next ten years would require approximately USD 4 billion in investment.

The company has already reported production of 30,000 tonnes of alumina as of September 2026. The latest financial performance comes as management works to address longstanding operational challenges and implement a five-year strategic plan aimed at restoring VALCO's position in the aluminium industry.

Dr Sambian said the current management inherited a company producing approximately 40,000 tonnes annually against an installed capacity of 200,000 tonnes. The facility was also facing obsolete equipment, frequent breakdowns, unreliable power supply and mounting debt.

"We met the plant at a point where almost all the moving equipment were being rented at a high cost," he stated. 

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Operational overhaul targets production recovery

To address these challenges, VALCO introduced a five-year strategic plan centred on changing the company's operational culture, institutional restructuring and attracting private capital.

Management also implemented an optimisation programme focused on improving operational discipline, restoring production capacity and prioritising value addition.

As part of the restructuring, the company replaced its previous equipment rental approach with a rent-to-own arrangement, allowing it to acquire machinery while moving away from the debts associated with the earlier model.

"We have not solved the whole of VALCO's problems, but we are making giant strides to come out of the woods," Dr Sambian said.

The company is now looking to consolidate the progress made so far while accelerating its recovery efforts.

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New rod mill supports downstream aluminium manufacturing

Another significant development in VALCO's operational overhaul is the installation of its first-ever rod mill, which Dr Sambian said supports the Government's value-addition agenda and its 24-Hour Economy initiative.

The facility is expected to create additional employment opportunities through a four-shift operating model, described by the CEO as "one job, four shifts, and four workers".

Beyond employment, the rod mill is intended to strengthen local industrialisation by expanding downstream manufacturing and reducing Ghana's reliance on imported aluminium.

According to Dr Sambian, the investment could also support higher export earnings and improve the country's competitiveness in global value chains.

Government calls for greater accountability

Deputy Minister of Lands and Natural Resources Dr Alhaji Yusif Sulemana described the Progress Report Series as an important platform for national development, providing an opportunity for government agencies to account for their activities.

He reaffirmed the ministry's commitment to ensuring that agencies under its jurisdiction fulfil their mandates in an accountable manner.

For VALCO, the immediate priority remains consolidating its operational improvements and building a stronger financial and production base. While the provisional profit marks progress, achieving its longer-term ambition of processing 1.5 million tonnes of alumina will depend on securing the substantial investment required over the next decade.

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