The Volta Aluminium Company Limited (VALCO) has recorded a significant improvement in its financial performance, moving from an operating loss of US$13.08 million in the first nine months of 2025 to an operating gain of US$1.3 million over the same period in 2026.

This represents an improvement of US$14.48 million, despite challenges with electricity supply, high production costs and reduced aluminium output.

According to the company’s performance report for the period ending September 2026, revenue increased by 13 percent, from US$91.78 million in 2025 to US$103.85 million in 2026.

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The report, presented by VALCO’s Chief Executive Officer, Dr Robert Makila Sambian, attributed the improvement mainly to higher aluminium prices on the international market and changes in the company’s operations.

However, aluminium production declined by 13.6 percent, from 34,254 tonnes in 2025 to 29,596 tonnes in 2026.

The company explained that a power outage on June 29, 2026, affected production, reducing the number of operational production cells from 124 to 90.

VALCO said it had begun restoring the affected cells as part of efforts to increase output and improve operations.

Despite the increase in revenue, production costs remained high. The company spent an average of US$3,814 to produce a tonne of aluminium, compared with the planned cost of US$2,946.

To reduce costs and improve efficiency, VALCO has started acquiring equipment rather than relying on rented machinery.

The company has acquired 16 lift trucks, two payloaders, two melting furnaces and other equipment to support production.

VALCO has also begun producing aluminium rods for local and European markets after completing its first rod production project in nine months.

The company said the move would help Ghana produce more finished aluminium products instead of depending mainly on the sale of raw aluminium.

Meanwhile, VALCO is seeking US$2.5 billion to expand its operations, including the construction of a 350-megawatt power plant, the development of bauxite mines and the establishment of an alumina refinery.

The company plans to increase aluminium production through expansion projects expected to be undertaken in 2029 and 2030.

It is also targeting an annual production capacity of 1.5 million tonnes by 2035, with a further US$4 billion investment planned for additional production lines.

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VALCO said discussions with potential investors were ongoing as it works towards becoming a major aluminium producer in Africa.

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