The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has dismissed claims that the Volta Aluminium Company (VALCO) is being sold, assuring workers that Government has no such intention.
He made the disclosure when he met with management and staff at VALCO’s Conference Room on 30th July, 2026 following the demonstration of some staff about the purported sale of VALCO.
The Minister said Cabinet had only approved the search for a strategic investor to provide the capital needed to revive the struggling company.
He revealed that more than US$700 million is required to modernise the plant and restore it to full operation.
“Nobody will sell VALCO. Not under the watch of President John Mahama. We are only looking for the right partner to help turn the company around,” he said.
Buah explained that VALCO is weighed down by more than US$250 million in power debts, ageing equipment, frequent breakdowns and declining production, making it difficult for the company to operate sustainably.
He said the Government held the position that attracting an investor is the best path to modernise the plant, settle its debts and create more jobs for Ghanaians.
As part of the process, the Minister announced that a worker representative would be added to the investor selection committee to safeguard the interests of staff, in addition to the management representative already on the committee.
The Chief Executive Officer of VALCO, Dr. Robert Sambian, welcomed the Minister’s assurance and urged workers to remain calm and support the process.
“Let us all have patience. Let us go through the process, bearing in mind that ultimately it is in the interest of the workers and the future of VALCO”.
He added that management would ensure workers’ interests remain central throughout the negotiations.