Minister for Lands and Natural Resources Emmanuel Armah-Kofi Buah has inaugurated an Investor Selection Committee to evaluate and recommend a strategic partner for the modernisation of the Volta Aluminium Company (VALCO) and the development of Ghana’s first alumina refinery.
The committee, established by the Ghana Integrated Aluminium Development Corporation (GIADEC) under the Ministry’s guidance, will assess proposals from investors and recommend partners that bring capital, technology, technical expertise, and a commitment to sustainable, value-driven development.
Speaking at the inauguration, Mr. Buah described the VALCO modernisation and alumina refinery projects as cornerstone initiatives in Ghana’s industrial transformation agenda.
“These two projects are interdependent and mutually reinforcing,” he said.
“The refinery will feed the smelter; the smelter will anchor downstream aluminium manufacturing, and together they will drive the emergence of broader industrial clusters supported by logistics, power, rail, and port infrastructure.”
He added that the initiative forms part of President Mahama’s reset agenda, which seeks to fully integrate Ghana’s aluminium value chain, a vision first championed by Dr. Kwame Nkrumah.
The Minister reaffirmed government’s commitment to ensuring a transparent and merit-based selection process aligned with national interests, environmental safeguards, and local community development.
Acting GIADEC Chief Executive Officer Reindorf Twumasi Ankrah pledged the Corporation’s full support to the committee and expressed optimism about the strong global investor interest shown in the projects, which he said reflects renewed confidence in Ghana’s economic management.
The projects aim to close a long-standing gap in Ghana’s aluminium value chain by enabling domestic processing of bauxite into alumina, which will feed a revitalised VALCO smelter. Currently, VALCO operates below capacity, producing about 40,000 tonnes of aluminium annually out of its 200,000-tonne potential, while importing alumina from abroad.
Once completed, the refinery and modernised smelter are expected to create thousands of jobs, stimulate downstream industries, and help Ghana retain greater value from its mineral resources.
Source: Myxyzonline.com
