ZCCM-IH AND WONDERFUL GROUP LAUNCH $30 MILLION INVESTMENT TO REVIVE NDOLA LIME
ZCCM-IH and Wonderful Group Invest $30 Million to Restore Ndola Lime Production and Develop Integrated Cement Facility
ZCCM Investments Holdings Plc (ZCCM-IH) has entered into a strategic joint venture with Wonderful Group of Companies Limited to restore industrial-scale lime production in Ndola and develop a new integrated lime and cement manufacturing facility on the Copperbelt.
The partnership marks a major step in the revival of one of Zambia’s oldest industrial operations and reinforces efforts to strengthen local supply chains supporting the mining, construction and agricultural sectors.
Under the agreement, the two parties will establish a new joint venture company, Ndola Lime (2026) Limited, with Wonderful Group holding a 55% stake and ZCCM-IH retaining 45%.
The project will be backed by a total investment package of US$30 million from Wonderful Group, comprising a US$25 million equity contribution and a US$5 million shareholder loan. The agreement became effective on 26 May 2026.
Reviving a Historic Copperbelt Industrial Asset
The transaction represents the return of industrial production at a site with deep historical significance to Zambia’s mining economy.
Limestone Resources Limited and its predecessor, Ndola Lime Company, have produced lime in Ndola since 1931, supplying critical inputs to copper processing operations as well as the construction and agricultural industries.
However, operational challenges over the years resulted in insolvency in 2018, leading to a prolonged shutdown of the operation.
Through the new partnership, ZCCM-IH and Wonderful Group aim to restore the facility with modern plant infrastructure and updated production technology capable of delivering reliable industrial-scale output.
The project is expected to contribute to the broader industrial renewal of Ndola while helping secure local lime supply for Zambia’s mining sector, particularly on the Copperbelt where demand for processing inputs remains strategically important.
Three-Phase Development Strategy
The development of the facility will be implemented in three phases designed to gradually expand production capacity and diversify output.
Phase One will focus on the construction and commissioning of a lime production plant with a capacity of 600 tonnes per day.
This phase is intended to rapidly restore production capability and reintroduce consistent lime supply into the market.
Phase Two, scheduled within twelve months of the completion of Phase One, will involve either the development of a cement processing plant or the construction of a second lime production plant, depending on market conditions and operational priorities at the time.
Phase Three will involve additional expansion of the facility based on future market demand and commercial performance.
The phased structure gives the joint venture operational flexibility while positioning the facility for long-term growth in Zambia’s industrial sector.
Strategic Importance for Zambia’s Economy
Lime remains an essential industrial material for Zambia’s copper mining industry, where it is widely used in mineral processing operations.
At the same time, demand for cement and construction materials continues to grow alongside infrastructure and urban development projects across the country.
The revival of Ndola Lime is therefore expected to support several key sectors simultaneously by strengthening local production capacity and reducing reliance on imported industrial inputs.
The project also aligns with broader efforts to stimulate industrial activity in Ndola and the Copperbelt region, historically one of Zambia’s most important economic centres.
Leadership Commentary
ZCCM-IH Chief Executive Officer Kakenenwa Muyangwa described the transaction as an important milestone in the company’s portfolio management strategy and a significant step toward restoring a longstanding industrial institution.
“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. 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,” Muyangwa said.
Wonderful Group Chief Executive Officer Huang Yaochi said the investment demonstrates the company’s long-term commitment to Zambia’s industrial development and economic growth.
“We are pleased to partner with ZCCM-IH on this strategically significant investment. 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 said.
Advancing ZCCM-IH’s Portfolio Strategy
The joint venture forms part of ZCCM-IH’s broader active portfolio management approach, which focuses on attracting strategic operating partners capable of deploying capital, technical expertise and operational capability across its investments.
By combining ZCCM-IH’s existing industrial assets with Wonderful Group’s financial commitment and operational participation, the partnership is expected to create a sustainable platform for long-term industrial production and economic value creation in Zambia.
