Aluworks Ghana posted a loss of GH¢7.5 million for the 2010 financial year.

The aluminium smelting firm has faced the high cost of raw material imports during the two-year period of closure of VALCO, its main raw material source.

Though VALCO has resumed operations, Aluworks continues to be plagued with high input costs. The company cites inadequate working capital as the cause of its poor performance last year. Managing director of Aluworks, Kwesi Okoh also blames unfair competition from cheaper and inferior imports as another cause of the company's poor results.

The company is hopeful of a turn-around in its fortunes as VALCO has started full scale production this year. This is expected to secure raw input supply for Aluworks and consequently reduce its cost of production.