ZCCM Investments Holdings Plc (ZCCM-IH), Zambia’s listed mineral and energy investment holding company, has partnered with Wonderful Group of Companies Limited to develop and operate an integrated lime and cement production facility through a new joint venture, Ndola Lime (2026) Limited.
The agreement, which became effective on 26th May 2026, will be implemented in three phases, starting with a 600-tonne-per-day lime plant, followed by either a cement plant or a second lime plant within 12 months, and further expansion thereafter.
The joint venture is expected to restore industrial-scale lime and cement production in Ndola, backed by a US$30 million investment from Wonderful Group.
Under the terms of the agreement, Wonderful Group will hold 55% of the new vehicle through a US$25 million equity contribution and a US$5 million shareholder loan, while ZCCM-IH will hold the remaining 45% through the contribution of operating assets from Limestone Resources Limited and the write-off of US$9.8 million of historic debt.
Limestone Resources Limited and its predecessor, Ndola Lime Company, have produced lime in Ndola since 1931, supplying key inputs to Zambia’s copper, construction and agricultural sectors. However, operational challenges forced Ndola Lime into insolvency in 2018.
ZCCM-IH Chief Executive Officer, Kakenenwa Muyangwa, said the partnership is designed to introduce state-of-the-art technology, restore reliable production at industrial scale and strengthen lime supply on the Copperbelt.
Mr. Muyangwa explained that the development would support Zambia’s mining industry and contribute to the revival of industrial activity in Ndola.
“This partnership brings a 95-year-old Copperbelt institution into its next chapter as a modern, sustainable industrial operation. It is a clear example of our active portfolio management strategy in practice,” he stated.
“We are bringing in a capable operating partner to deliver investment, technology and scale. The revived facility will support the industrial renewal of Ndola and generate value for our shareholders.”
He added that the joint venture marks further progress in ZCCM-IH’s active portfolio management strategy, which focuses on partnering with capable operators to deploy capital and capability across the Company’s holdings.
And Wonderful Group Chief Executive Officer, Huang Yaochi said the company was pleased to partner with ZCCM-IH on what he described as a strategically significant investment.
He said restoring lime production at industrial scale is essential to Zambia’s continued economic growth.
“The integrated lime and cement facility reflects our long-term commitment to the country’s industrial development,” he added
