VALCO returns to positive earnings with US$1.4m EBITDA in first nine months of 2026
The Tema smelter's revenue rose 13% to US$103.85m even as output fell a quarter short of plan after a June power failure.
Volta Aluminium Company (VALCO) reported positive EBITDA of approximately US$1.4 million for the first nine months of 2026, marking a turnaround from a loss of US$13.08 million in the same period the previous year, according to CEO Dr Robert Makila Sambian. Revenue for the period increased by 13 percent to US$103.85 million, driven by a 25.7 percent shortfall in aluminium production compared to target output.
The smelter faced a power outage on June 29, but managed to recover and currently operates 98 of its 127 active reduction cells. VALCO secured 5,000 tonnes of imported carbon anodes in efforts to reach 150 active cells. The company's first value-added line, the Continuous Casting and Rolling (CCR) Electrical Grade Rod Mill, is credited with contributing to the financial improvement.
Sambian outlined plans to run all 200 cells by 2027, increase annual capacity to 80,000 tonnes, and expand aluminium production to 1.5 million tonnes annually by 2035, which would require an investment of about US$4 billion over the next decade.
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