The Volta Aluminium Company Limited (VALCO) is currently reaching out to prospective investors, said Kofi Arko Nokoe, Board Member of VALCO and Member of Parliament for Evalue-Ajomoro-Gwira Constituency . The plan is part of a larger strategy, supporting Ghana to decrease bauxite exports and utilise the ore in the domestic market to derive greater financial benefits.

Even in January 2026, The Ghana Integrated Aluminium Development Corporation (GIADEC) had firmly stated that the Ghana government would be pursuing  a carefully structured strategic partnership to revive and expand the long-idled smelter VALCO, rejecting the speculation of its sale.

On March 27, while addressing the media following meetings with prospective investors, Kofi Arko Nokoe, reconfirmed the search for partnerships and stated the objective is to unlock the economic value of Ghana’s bauxite reserves.

According to the board, current discussions are focused on attracting strategic partners to support the retrofitting of existing infrastructure, increase production capacity, and enable full integration of Ghana’s aluminium value chain.

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“We’re sitting on about a billion tonnes of bauxite, and the major aim of this board… is to ensure that the huge deposit upon which we sit would be optimised to yield to the benefit of this country,” he said. He also noted that the current approach of exporting raw bauxite while importing refined alumina is not economically viable. “We don’t believe in always exporting bauxite, where we have to import alumina just to smelt it and then also sell it back,” he added.

Highlighting the difference in value, he explained, "A tonne of bauxite sells for almost about USD 45, but a refined aluminium final product sells for over USD 4,500… you can look at the difference.” Mr Nokoe further disclosed that discussions with a Chinese firm are ongoing, with both sides exploring a potential partnership to revive operations and expand production.

“We’re trying to see how we can have partners to retrofit our machinery, expand our production, and ensure that basically we optimise the raw materials upon which we sit,” he said.

He also pointed out that demand for aluminium products remains strong, which could support VALCO once output increases. “The offtake of the final product of VALCO is a hotcake because aluminium is a metal that is used in everything, even in renewables,” he noted.

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Following site visits by the prospective investors, Mr Nokoe described the engagement as positive and expressed confidence about reaching an agreement. “It’s a positive one… and we believe that next time that we meet, it would be about a signing of an MOU to ensure that we partner to… get VALCO back to life,” he said. 

He added that while certain conditions still need to be met, both sides remain interested in progressing discussions, with expectations that talks could move forward in the coming months.