The Board of the Volta Aluminum Company (VALCO) on Thursday, August 17, 2023 paid a working visit to the Ministry of Lands and Natural Resources to acquaint themselves with the ministry and discussed possible ways of revamping the aluminum smelter company.
The meeting was a reciprocal visit following an earlier visit by the deputy minister in-charge of mining George Mireku Duker about a week ago where he charged management and the board to revamp the company.
Mr Duker who received the delegation on behalf of the sector Minister, Samuel Abdulai Jinapor commended the Board for the unity among its members and urged them to continue to work hard towards reviving VALCO.
He emphasized the need for VALCO to modernise its operations and devise a suitable module to address its challenges and encouraged the Board to work hard in telling its success story in the not too distant future.
The Board Chairman of VALCO, Dr Henry Benyah reported that despite the challenges, his outfit has achieved significant success since assuming office saying, “the Board inherited a debt of about 15million dollars in 2020 and with hard work, it has recorded profit of about $8.7million in 2021 and about $5.7 million in 2022”.
These gains were made despite challenges including protests workers for better working conditions of service which affected the company’s production in 2022”.
He indicated that the Board is working assiduously to execute its mandate and make VALCO thrive again taking into cognisance the diverse opportunities across the world.
The Chief Executive Officer of GIADEC, Mr. Michael Ansah reiterated efforts made by his outfit to ensure that VALCO is well position to play an effective part in the Integrated Aluminium Industry.
The former CEO of VALCO and a Board Member, Mr. Daniel Acheampong commended the current management of VALCO and called for the modernisation of VALCO to enable it contribute significantly to the development of Ghana.
The Managing Director of VALCO, Daniel Nii Kwartei Titus Glover urged all stakeholders to come together to help achieve the dream of His Excellency, Nana Addo Dankwah Akuffo-Addo of bringing back VALCO to its feet.
The establishment of VALCO began in 1964 as a result of the meeting of minds by Ghana’s first president Dr Kwame Nkrumah and the late Edgar Kaiser, Chairman and Founder of Kaiser Aluminum & Chemical (KACC) who was the immediate past majority shareholder of VALCO.
VALCO iis ained at producing primary aluminium for the local and international markets.