Kaiser had protested the government mandated curtailment of power to the smelter in recent months, resulting in decreased production. The power curtailments are a result of low levels at Volta Lake.
Under the terms of the MoU, Ghana would work with Valco to provide power to the Valco smelter at levels and at a competitive price that would suit the two parties.
As a long-term measure, the two parties agreed that from January 2006, Ghana will allocate power to Valco on a firm basis that would not be determined exclusively by the level of water of the Volta Lake.
