The Ghana Integrated Aluminum Development Corporation (GIADEC) has said interested parties could partner on a five-year, US$10 billion recovery plan for VALCO and the wider mining sector in the country.
The first phase of the upgrade would increase production to 180,000 t/yr, while a second would reach 300000 t/yr. VALCO has a nameplate capacity of 200,000 t/yr, but currently only puts out 80,000 t/yr as three out of five potlines are offline.
Michel Ansakh, general manager of GIADEC, told reporters that an investment agreement with "strategic partners" can be signed off on by the end of 2020, and that VALCO would be listed on the London Stock Exchange to draw interest.
GIADEC also wants to start three new bauxite mines, and at add at least two refineries to the existing VALCO smelter, to create 35,000 domestic jobs and create an integrated aluminium industry.
The VALCO smelter was closed temporarily in January due to a dispute over US$30 million unpaid debt to the domestic power provider.
Over 40 companies - both Ghanaian and international - have expressed interest in bidding to be selected to develop various aspects of the aluminium value chain, according to GIADEC's website.