Aluminum smelting firm Aluworks has recorded yet another loss in its operations, the third such in as many years. It recorded a loss of 7.5 million Ghana cedis. The company has been going through some serious difficulties over the years following the closure of VALCO which is its main source for raw materials. Though the high cost of raw material played a part in last year’s poor performance, as VALCO is just resuming production, the firm is blaming the decline in its fortunes last year to inadequate working capital. Its Managing Director Kwesi Okoh also mentions unfair competition from cheaper and inferior imports as yet another factor. Mr. Okoh told Joy Business they are looking forward to a better 2011. He said because VALCO had started production, ALUWORKS could reduce its cost of production by not having to import the raw materials from outside the country at a great cost. Source: Joy Business/Ghana