Ghana forms team to negotiate strategic partnership for VALCO

The Ghanaian government has inaugurated a dedicated negotiations team to secure a strategic partnership for the Volta Aluminium Company Limited (VALCO). The team, established by the Ministry of Lands and Natural Resources, is tasked with negotiating terms with a prospective investor to modernize and expand the Tema-based aluminium smelter.

The partnership aims to provide the necessary capital and technical expertise to retool the facility and improve efficiency. This initiative follows a decline in operational capacity, with the number of active cells at the smelter dropping from 127 in 2025 to approximately 90 by August 2026. Challenges cited include aging machinery, power supply constraints, and supply chain difficulties.

Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah emphasized that VALCO is a vital national asset and must not be allowed to collapse. He noted that the arrangement is not an outright sale, but rather a move to bring in an investor for an equity stake in exchange for sustained investment. The negotiations will evaluate potential partners based on their financial capacity, technical expertise, and experience in operating aluminium smelters.