VALCO aims for resurgence in Ghana’s aluminum industry amidst Government backing
In a bid to reinvigorate Ghana’s aluminum sector, George Mireku Duker, Deputy Minister for Lands and Natural Resources in charge of Mining, has embarked on a determined mission to breathe new life into the Volta Aluminium Company (VALCO).
Mr Duker, alongside his delegation, recently visited VALCO, signaling the government’s resolute commitment to transforming the company into a cornerstone of the nation’s ambitious integrated aluminum industry plans.
Mr Duker’s impassioned address to investors resonated with optimism and the promise of value addition. His strategic vision hinges on propelling VALCO into a pivotal position in Ghana’s economic narrative, with emphasis on deriving more value from the bauxite extraction process.
Currently, the nation exports raw bauxite while incurring significant costs for importing alumina. Duker sees VALCO as the linchpin in the shift towards in-country aluminum production, turning raw resources into a viable and lucrative domestic industry.
The Deputy Minister underscored VALCO’s present momentum and its proximity to profitability. Encouraging potential investors, Duker highlighted the company’s upward trajectory under current management, and conveyed the government’s dedicated support to facilitate VALCO’s revival. He affirmed the Ministry’s vigilance in overseeing the transformation, allaying concerns that investments could go awry.
Daniel NII Kwartei Titus Glover, VALCO’s CEO, offered a candid appraisal of the company’s status. He acknowledged the challenges that VALCO confronts but also pointed to substantial strides made despite the odds. A comprehensive outline of the management’s vision painted a picture of revitalization, with plans to optimize VALCO’s production lines.
Mr Glover noted the current underutilization of lines, which operate at 117 units out of a potential 200. However, his proclamation of a target to achieve between 140 and 150 units by year-end echoed the resurgence being pursued.
The drive to restore VALCO’s prominence is not merely an industrial endeavor, but a strategic leap towards bolstering Ghana’s economic fabric. With Duker’s optimism, Glover’s ambition, and government backing, the VALCO narrative seems poised for an inspiring revival – one that resonates with Ghana’s aspirations to command a substantive presence in the aluminum sector.
As VALCO endeavors to ascend once again, its journey becomes emblematic of Ghana’s larger mission to harness its resources for sustainable growth and value-centric industrialization.
