ZCCM Investments Holdings (ZCCM-IH) and China’s Wonderful Group have signed an agreement to develop a US$30m integrated lime and cement production project in Zambia through a joint venture involving Ndola Lime Ltd.

Under the agreement, Wonderful Group will hold a 55 per cent stake in the venture through a US$25m equity investment and a US$5m shareholder loan. ZCCM-IH will retain a 45 per cent stake, supported by contributions from Limestone Resources Ltd assets and the write-off of US$9.8m in historic debt.

ZCCM-IH CEO Kakenenwa Muyangwa said the partnership would support the modernisation of the long-established Copperbelt industrial operation and contribute to renewed manufacturing activity in Ndola.

Advertisement

Phase One of the project will involve construction of a 600tpd lime production plant. Subsequent phases could include development of a cement processing plant or additional lime production capacity, depending on market demand.

The project is expected to begin implementation in 2026.