The Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, has shot down reports that the Volta Aluminium Company (VALCO) is up for sale, telling staff members the state has no plans to offload the company.
Mr. Buah made the remarks on July 30, 2026, during a meeting with VALCO’s management and workers at the company’s conference room. The engagement followed a protest by some employees over fears the smelter was being sold off.
According to the Minister, Cabinet has only approved plans to bring in a strategic investor to provide the funding needed to restart operations. He revealed that reviving the plant to full capacity will take over US$700 million in investment.“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.
Hon. Buah said VALCO was currently weighed down by over US$250 million in electricity debts, outdated machinery, constant breakdowns and low output, all of which have made operations unsustainable.
He noted that bringing in a strategic partner was the government’s preferred option to upgrade the facility, settle its liabilities and generate more jobs for Ghanaians. To protect workers’ interests, the Minister announced that an employee representative will join the committee tasked with selecting the investor.
A management representative is already on the panel. The VALCO CEO, Dr. Robert Sambian, backed the Minister’s message and called on staff members to stay calm.
“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 assured that management will make sure worker concerns stay at the centre of all negotiations going forward.
