President Mahama Targets Domestic Aluminium Refining, VALCO Modernisation
President John Dramani Mahama has announced plans to modernise the Volta Aluminium Company (VALCO) and develop domestic aluminium refining as part of efforts to establish a stronger local aluminium industry.
The initiative is intended to connect Ghana’s bauxite resources to alumina refining, aluminium smelting and the manufacture of finished products, allowing the country to retain more value from its mineral resources.
Speaking at the opening of the 2026 Mining in Motion Summit in Accra, President Mahama said legislation alone would not deliver industrial transformation, stressing the need for infrastructure, reliable energy, investment and coordinated production across the mineral value chain.
“In Ghana’s aluminium industry, our objective is to modernise VALCO and develop domestic aluminium refining, linking Ghanaian Bauxite to smelting and manufactured products,” he said.
The President said the government had laid the institutional foundation for the development of the aluminium industry through the Ghana Integrated Aluminium Development Corporation (GIADEC), which provides a framework for linking bauxite mining to refining, smelting and manufacturing.
He explained that Ghana needed to move beyond exporting mineral ores to building industries that could process them into materials required by manufacturers and other productive sectors.
President Mahama said the global transition towards cleaner energy had increased demand for critical minerals, presenting African countries with an opportunity to expand their participation in manufacturing and technology-driven industries.
He said Ghana must take advantage of this demand by building the necessary skills, technology and reliable supply networks to support competitive local production.
“The transition to cleaner energy has intensified demand for critical minerals. Africa must seize this opportunity to secure a stronger position in manufacturing, supported by skills, technology and reliable supply networks,” he said.
The President identified reliable and competitively priced electricity as a major requirement for refineries and smelters, alongside adequate water supplies, secure access to raw materials and efficient transport infrastructure.
He said roads, railways and ports must connect mineral production sites to processing facilities and markets, while training institutions must prepare the engineers, technicians, geologists and managers required by the industry.
“Refineries and smelters require reliable, competitively priced energy, adequate water, and secure supplies of raw materials. Roads, railways and ports must link production to markets,” he said.
President Mahama also called for disciplined public investment and credible opportunities for private and development finance to support commercially viable industrial projects.
He said the government would require major initiatives to operate with clearly assigned responsibilities, measurable milestones and transparent reporting to ensure that policy commitments translated into actual production.
The President linked the proposed modernisation of VALCO to Ghana’s broader plan to stop exporting unprocessed mineral ores by 2030.
He said the country’s bauxite, manganese, iron, lithium and other mineral resources should support processing and industrial development within Ghana rather than continue to leave the country in their raw form.
President Mahama added that local processing would create opportunities for businesses beyond mining, including equipment maintenance, fabrication, laboratories, software development and recycling.
He urged indigenous enterprises to participate meaningfully in the ownership, management and production activities of the mining sector, noting that local companies needed access to patient financing, fair procurement arrangements and prompt payments to become competitive.
The President said international partnerships should deliver practical supplier development and technology transfer, while creating opportunities for women and young people to access training, financing and contracts.
He welcomed investors prepared to contribute capital, expertise and technology to develop competitive industries in Ghana and across Africa.
President Mahama said the ultimate measure of the aluminium industry’s development would be the establishment of operating facilities, expanded local supply chains and sustainable employment opportunities.
Richard Aniagyei, ISD
