Lands Minister Inaugurates Investor Selection Committee for VALCO Modernisation, Alumina Refinery Projects
The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has inaugurated an Investor Selection Committee established by the Ghana Integrated Aluminium Development Corporation (GIADEC) under the guidance of the Ministry to evaluate and recommend a strategic partner for the modernisation of the Volta Aluminium Company (VALCO) and the establishment of Ghana’s first alumina refinery.
Speaking at the inauguration, Mr Buah described the two projects as “cornerstone initiatives” in Ghana’s industrialisation drive, underscoring their importance to President John Dramani Mahama’s reset agenda aimed at creating a fully integrated aluminium value chain.
“These two projects are interdependent and mutually reinforcing,” he noted. “The refinery will feed the smelter, the smelter will anchor downstream aluminium manufacturing, and together they will drive the growth of industrial clusters supported by logistics, power, rail, and port infrastructure. The goal is clear — to move from raw-material export to value addition.”
The Minister emphasised that the selection committee was carefully constituted to assess proposals from potential investors and recommend partners who bring not only financing but also technology, technical expertise, capacity-building, and a commitment to environmental sustainability and Ghana’s long-term industrial development.
Acting Chief Executive Officer of GIADEC, Reindorf Twumasi Ankrah, reaffirmed the corporation’s support for the committee, citing strong investor interest from across the globe as a reflection of growing confidence in the Mahama administration’s economic management.
Mr Buah assured that the investor selection process would be transparent and merit-based, guided by national interest and the protection of Ghana’s lands, minerals, and host communities.
Ghana’s quest to develop an Integrated Aluminium Industry (IAI) dates back several decades but has been constrained by funding limitations, unreliable power supply, and global market challenges. The absence of a domestic alumina refinery remains a critical gap in the aluminium value chain.
Currently, VALCO produces about 40,000 tonnes of aluminium annually — significantly below its 200,000-tonne installed capacity — relying on imported alumina from countries such as Jamaica. The planned alumina refinery seeks to address this shortfall by processing local bauxite into alumina to feed a modernised VALCO smelter.
Once operational, the refinery and modernised smelter are expected to form the backbone of Ghana’s aluminium manufacturing base, driving value addition, job creation, and sustainable industrial growth.
