The Volta Aluminium Company Limited (VALCO) is facing what sources describe as a serious operational crisis, with the number of active production pots falling from about 127 in 2025 to 90 as of August 2026.
The decline represents a loss of 37 operational pots, equivalent to more than 29% of the smelter’s production capacity in less than a year.
Information available to Metrotvonline.com indicates that the current management, led by Chief Executive Officer Robert Makaila Sambian and Board Chairman Nii Ayi Ankrah, inherited about 127 active and operational pots from the previous administration.
However, only 90 pots are currently operational at the Tema-based aluminium smelter.
Sources attribute the decline to a combination of technical, managerial and supply challenges, including a failure at the carbon plant, poor fuel quality and workforce-related concerns.
The development has raised fresh concerns about the operational viability of Ghana’s only aluminium smelter, which has struggled for years with ageing equipment, inadequate capital and working capital constraints.
Precarious inventory levels
The smelter’s inventory position is also said to be a major concern.
Available data show that green anode stock is below one day, while baked anode stock stands at slightly more than two days. Rodded anode stock is reportedly about half a day.
These figures are significantly below VALCO’s target stock levels of 15 days for green anodes, 15 days for baked anodes and five days for rodded anodes.
The low inventory levels mean that any disruption in the supply chain could quickly translate into production losses.
Financial performance is also under pressure.
As of June 2026, VALCO was reportedly recording an operational loss of US$37 per metric tonne, with the cost of operations at US$3,721 per tonne against an all-in selling price of US$3,684 per tonne.
The company also recorded a net loss of US$520,000 as of June 2026.
The fall in operational capacity, combined with the financial and inventory challenges, has heightened concerns among workers, organised labour and policy stakeholders about the possibility of further deterioration if urgent measures are not taken.
Long-standing challenges
VALCO, established as Ghana’s only aluminium smelter, remains a key component of the government’s ambition to develop an integrated aluminium industry through the Ghana Integrated Aluminium Development Corporation (GIADEC).
The company has, however, faced persistent challenges over the years, including unreliable power supply, ageing infrastructure, limited working capital and significant financial obligations.
The latest operational difficulties have compounded those challenges and renewed concerns about the long-term sustainability of the smelter.
Stakeholders are therefore calling for urgent measures to stabilise production, address equipment failures, secure adequate raw material supplies and improve the company’s financial position.
The Ghana Integrated Aluminium Development Corporation and the Ministry of Lands and Natural Resources are yet to publicly comment on the latest developments at VALCO.
Emmanuel Kojo Marfo, an energy and mining consultant, is among those raising concerns over the situation.
