Volta Aluminum Company
Encyclopedia
Volta Aluminum Company, known as Valco, is an aluminium
company based in Ghana
founded by Kaiser Aluminum
and now wholly owned by the government of Ghana. Valco is a joint venture with Alcoa
, the major aluminum conglomerate based in the United States
. In 1961 Valco invested in the Akosombo Dam
hydroelectric power project to provide energy for its aluminum smelters. The company had negotiated favorable terms for power purchase with the government. The agreement was re-negotiated in 1985, as part of the program of the Rawlings government, to reflect the increased value of electrical energy.
. Locally, a major Ghanaian customer of Valco is Aluworks
. While one motivation for establishing the plant was the local availability of alumina, mostly it was imported from Jamaica.
In May 2003 Valco closed completely due to problems in negotiating a supply of electricity
. It reopened in early 2006.
In 2004 the government purchased most of the company. In June 2008 Alcoa sold its 10% stake in Valco to the government of Ghana.
The smelter has a capacity of 200,000 metric tons per year of ingots but was shut down between 2007 and 2011. In early 2011 it has been operating at about 20% of its capacity, producing 3000 tons per month, mostly for local consumption, with plans to activate a second potline to bring monthly production up to 6000 tons.
Aluminium
Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances....
company based in Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
founded by Kaiser Aluminum
Kaiser Aluminum
Kaiser Aluminum is an American aluminum producer. The company was founded in 1946 by American industrialist Henry J. Kaiser. Kaiser entered the aluminum business by leasing, then purchasing three government-owned aluminum facilities in Washington state. These were the primary reduction plants at...
and now wholly owned by the government of Ghana. Valco is a joint venture with Alcoa
Alcoa
Alcoa Inc. is the world's third largest producer of aluminum, behind Rio Tinto Alcan and Rusal. From its operational headquarters in Pittsburgh, Pennsylvania, Alcoa conducts operations in 31 countries...
, the major aluminum conglomerate based in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. In 1961 Valco invested in the Akosombo Dam
Akosombo Dam
The Akosombo Dam , is a hydroelectric dam on the Volta River in southeastern Ghana in the Akosombo gorge and part of the Volta River Authority. The construction of the dam flooded part of the Volta River Basin, and the subsequent creation of Lake Volta...
hydroelectric power project to provide energy for its aluminum smelters. The company had negotiated favorable terms for power purchase with the government. The agreement was re-negotiated in 1985, as part of the program of the Rawlings government, to reflect the increased value of electrical energy.
Operations
Valco smelts alumina to produce aluminium ingots at its smelter at TemaTema
Tema is a city on the Atlantic coast of Ghana, lying east of the Ghanaian capital city, Accra, in the region of Greater Accra. As of 2005, Tema had a population of 209,000. The Greenwich Meridian passes directly through the city...
. Locally, a major Ghanaian customer of Valco is Aluworks
Aluworks
Aluworks is a manufacturing company based in Ghana. It was founded in 1978 and was converted to a public limited liability company in 1996.Aluworks is listed on the Ghana Stock Exchange and is a component listing of the GSE All-Share Index.-Operations:...
. While one motivation for establishing the plant was the local availability of alumina, mostly it was imported from Jamaica.
In May 2003 Valco closed completely due to problems in negotiating a supply of electricity
Electricity
Electricity is a general term encompassing a variety of phenomena resulting from the presence and flow of electric charge. These include many easily recognizable phenomena, such as lightning, static electricity, and the flow of electrical current in an electrical wire...
. It reopened in early 2006.
In 2004 the government purchased most of the company. In June 2008 Alcoa sold its 10% stake in Valco to the government of Ghana.
The smelter has a capacity of 200,000 metric tons per year of ingots but was shut down between 2007 and 2011. In early 2011 it has been operating at about 20% of its capacity, producing 3000 tons per month, mostly for local consumption, with plans to activate a second potline to bring monthly production up to 6000 tons.