The Volta Aluminium Company Limited (VALCO) has recorded a positive Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of US$1.3 million for the nine months ending September 2026, reversing a loss of US$13.08 million recorded during the same period last year.
The Chief Executive Officer of VALCO, Dr Robert Makila Sambian, disclosed this during the Ministry of Lands and Natural Resources’ Progress Series in Accra, where he outlined the company’s financial performance and plans to restore its production capacity.
Revenue for the period increased by 13 per cent to US$103.85 million, compared with US$91.78 million recorded in the corresponding period of 2025.
Despite the improved financial performance, aluminium production fell short of target. VALCO produced 29,596 metric tonnes during the nine months, against a planned output of 39,813 metric tonnes, representing a 25.7 per cent shortfall.
Production was also 13.6 per cent lower than the 34,254 metric tonnes recorded during the same period in 2025.
Dr Sambian attributed the setback partly to a power grid collapse and transformer failure on June 29, 2026, which disrupted electricity supply to the plant for approximately seven hours and 20 minutes, affecting several operating cells.
As part of efforts to restore production, VALCO has secured 5,000 metric tonnes of imported carbon anodes to support an increase in active production cells to 150 in the near term.
The company is targeting the restoration of all 200 production cells by 2027, with an annual production capacity of 80,000 metric tonnes.
Management has also installed the company’s first Electrical Grade Rod Mill, which processes primary aluminium into electrical-grade rods for the domestic and European markets.
The facility forms part of VALCO’s strategy to increase value addition, support local manufacturing and expand export earnings.
The company’s workforce increased from 785 employees in December 2025 to 848 in October 2026. Dr Sambian said the figure could rise to 1,500 when all five production lines are fully restored, with the expansion expected to support more than 6,000 indirect jobs.
The CEO further disclosed that Cabinet had approved the engagement of a strategic investor to support the company’s recovery and expansion, with discussions and negotiations ongoing.
In the longer term, VALCO is targeting annual production of 1.5 million metric tonnes of primary aluminium by 2035 as part of plans to develop an integrated aluminium industry covering bauxite mining, alumina refining, smelting and downstream manufacturing.
