Publication date: 28 May 2026
ZCCM Investments Holdings Plc (ZCCM-IH) has entered into a US$30 million joint venture with Wonderful Group to develop and operate an integrated lime and cement production facility through a new company, Ndola Lime (2026) Limited.
The partnership marks a significant step in the revival of one of the Copperbelt’s longest-standing industrial operations and aligns with ZCCM-IH’s strategy of unlocking value through strategic partnerships. Under the agreement, Wonderful Group will hold a 55% stake in the venture through a US$25 million equity investment and a US$5 million shareholder loan. ZCCM-IH will retain a 45% stake through the contribution of assets from Limestone Resources Limited and the write-off of US$9.8 million in historic debt.
ZCCM-IH Chief Executive Officer, Mr Kakenenwa Muyangwa, described the partnership as the beginning of a new chapter for a 95-year-old Copperbelt institution. Mr Muyangwa noted that the revived facility will play an important role in supporting Zambia’s mining industry while contributing to the industrial renewal of Ndola and generating value for shareholders.
Wonderful Group Chief Executive Officer Mr Huang Yaochi reaffirmed the company’s long-term commitment to Zambia, stating that the investment reflects Wonderful Group’s confidence in the country’s industrial development prospects.
The project will be implemented in three phases. Phase One will involve the construction and commissioning of a lime production plant with a capacity of 600 tonnes per day. Phase Two will introduce either a cement processing plant or a
second lime production plant, while Phase Three will focus on further expansion based on market demand. The transaction represents further progress in ZCCM-IH’s active portfolio management strategy, which seeks to partner with
capable operators to deploy capital, technology, and operational expertise across the Company’s holdings. Once operational, the facility is expected to strengthen local supply chains, support key sectors such as mining and construction, and contribute to Zambia’s broader industrialisation agenda.