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at an affordable rate. On August 4, 2004, Alcoa and the
Government of the Republic of Ghana announced that they had finalized agreements to restart the VALCO smelter in Tema. The plan, which included the restart of 3 potlines, representing 120,000 metric tons per year (mtpy), was to be implemented in
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and aluminium smelting and production in Ghana, with new mines and plant updates. Industry media suggests in 2023 that despite retaining 750 workers the plant is aging, requiring at least US$ 600m of investment, to bring production up to 300,000 tpa. Ghana imports up to 45,000 tonnes of aluminium
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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, by the
Rawlings government, to reflect the increased value of electrical energy. Documentaries reported favourable conditions for
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The smelter has a capacity to produce 200,000 metric tons per year of ingots. In early 2011, it began operating again at about 20% of its capacity, producing 3,000 tons per month, mostly for local consumption, with plans to activate a second potline to bring monthly production up to 6,000 tons in
241:. 11 years later in 2022, the 600-acre plant was still operating at about one-fifth of its rated capacity, producing liquid aluminium, rolling ingot, and extrusion billet. These are used for electrical cables and conductors, holloware (including pots and pans) and roofing sheets.
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employees, with a hospital on site, maternity leave, long service rewarded by imported white goods (fridges, washing machines, etc.), and housing. Industrial relations had cooled by 1993, when the first union backed strike took place. This resulted in a 60% pay increase.
233:. While one motivation for establishing the plant was the local availability of bauxite in Ghana, the major raw material of alumina, VALCO has for many decades imported alumina to produce aluminum.
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Since this time the Tema plant has seen several years of shutdown and reduced capacity. In May 2003 VALCO closed completely due to persistent problems in negotiating its high consumption of
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In June 2008, ALCOA sold its 10% stake in VALCO to the government of Ghana, leaving it wholly in government ownership and with no source of foreign investment capital.
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the first quarter of 2006.]. It reopened in early 2006, However the plant shut again between 2007 and 2011.
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304:"An American Island in Ghana (Ghana's Electric Dreams - part 5) on Vimeo"
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253:' sector given the plant is still mostly powered by hydroelectricity.
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Arbitration and renegotiation of international investment agreements
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In 1961, Kaiser
Aluminum & the Ghana Government invested in the
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Wolfgang Peter, Jean-Quentin de Kuyper, Bénédict de
Candolle
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517:1948 establishments in Gold Coast (British colony)
423:"VALCO needs US$ 600m to modernise aging smelter"
249:products and also sees potential in joining the '
174:, major aluminum conglomerates both based in the
158:and now wholly owned by the government of Ghana.
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512:Manufacturing companies established in 1948
244:The government is seeking to internalise
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225:. Locally, a major Ghanaian customer of
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375:Government Printing Office, 2010
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285:, Kluwer Law International, 1995
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440:Volta Aluminum at Alcoa website
166:VALCO was a joint venture with
187:Akosombo Hydroelectric Project
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341:Company Reports Aluworks 2006
487:Aluminium companies of Ghana
46:Government-owned corporation
20:Volta Aluminum Company Ltd.
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371:Geological Survey (U.S.),
318:"Alcoa Online Newsroom |"
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129:The Government of Ghana
136:Volta Aluminum Company
507:Former joint ventures
350:. gcsinvestments.com.
213:to produce aluminium
152:Greater Accra Region
463:5.66778°N 0.02111°E
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360:Ghana Valco Smelter
263:Aluminium in Africa
99:Government of Ghana
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492:Aluminium smelters
395:2012-04-07 at the
346:2007-07-05 at the
180:Gold Coast colony
178:, in the British
146:company based in
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73:Headquarters
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383:, page 19-2
293:pp. 108-118
195:electricity
154:founded by
138:, known as
111:to produce
481:Categories
327:2017-08-17
269:References
205:Operations
94:Key people
454:0°01′16″E
451:5°40′04″N
409:"Unknown"
182:in 1948.
144:aluminium
113:aluminium
393:Archived
344:Archived
257:See also
231:Aluworks
142:, is an
105:Products
56:Aluminum
219:smelter
217:at its
211:alumina
162:History
120:smelter
118:at its
109:Alumina
65:Founded
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215:ingots
116:ingots
38:Public
497:Alcoa
227:VALCO
172:ALCOA
140:VALCO
126:Owner
86:Ghana
52:Genre
377:ISBN
287:ISBN
239:Tema
223:Tema
170:and
148:Tema
77:Tema
68:1948
229:is
221:at
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
