The Volta Aluminium Company Limited (VALCO) has recorded a significant financial turnaround, posting a positive EBITDA of US$1.3 million for the nine months to September 2026, compared to a negative EBITDA of US$13.08 million during the same period last year.

The Chief Executive Officer of VALCO, Dr Robert Makila Sambian, disclosed this during a presentation of the company’s performance update, highlighting management’s achievements and plans to reposition the smelter for long-term growth.

He added that the company had also secured critical production inputs, including 5,000 metric tonnes of imported anodes, to support its planned increase in production to 150 active cells.

A major achievement, according to the CEO, is the installation of VALCO’s first ever Electrical Grade Rod Mill, which is currently producing aluminium rods for both domestic and European markets.

“This marks a significant shift in VALCO’s evolution from a producer of primary aluminium to a manufacturer of higher value products,” Dr Sambian stated.

He said the facility would support local industrialisation, create sustainable jobs, increase export earnings and reduce Ghana’s reliance on imported aluminum.

Looking ahead, Dr Sambian said the company’s immediate priority was to restore full production capacity by increasing active cells to 200 by 2027, alongside comprehensive plant rehabilitation, conversion from heavy fuel oil to natural gas and expansion of value added production.

The Chief Executive Officer, disclosed that the company expects its workforce to grow to 1,500 when all five production lines are fully restored.
He further indicated that the expansion of operations has the potential to create more than 6,000 indirect jobs, contributing to employment generation and economic growth.

Highlighting the progress made, Dr Sambian said management had undertaken significant equipment upgrades, including the acquisition of 16 lift trucks, two payloaders, melting furnaces, cranes and other essential machinery to strengthen operations.

He further outlined VALCO’s long-term ambition to become a fully integrated aluminium producer, covering bauxite mining, alumina refining, reliable energy supply and value added manufacturing, with a target of producing 1.5 million tonnes of primary aluminium by 2035.

Dr Sambian also disclosed that Cabinet had approved the engagement of a strategic investor to accelerate the company’s turnaround, with discussions and negotiations currently underway.

Revenue for the period increased by 13 per cent to US$103.85 million, up from US$91.78 million in 2025, despite production setbacks caused by a power outage in June.

The company (VALCO) has increased its workforce to 848 as of October 2026, representing an increase of 63 employees from the 785 recorded in December 2025.

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MLNR UPDATE