ZCCM-IH, China's Wonderful Group launch $30mn Zambia lime and cement JV amid Copperbelt revival

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Zambia’s state-backed mining investment company ZCCM Investments Holdings Plc (LuSE: ZCCM-IH) has entered into a joint venture with Chinese-owned conglomerate Wonderful Group of Companies to revive and expand lime and cement production in the Copperbelt region as the country seeks to support rising mining-sector demand and broader industrialisation. Mining Weekly reports the two companies will jointly invest $30mn in the venture, Ndola Lime, with ZCCM-IH holding a 45% stake and Wonderful Group , which is active in cement, mining services, energy and construction materials in Zambia , controlling the remaining 55%. According to the parties, the project will restore operations at one of the Copperbelt’s oldest industrial facilities. Limestone Resources and its predecessor, Ndola Lime Company , have supplied lime products to Zambia’s mining, construction and agricultural sectors since 1931. The plant owner entered insolvency proceedings in 2018 following years of operational and financial difficulties. The new partnership aims to install upgraded production technology, restore large-scale lime output and strengthen industrial supply chains linked to Zambia’s copper industry and manufacturing sector. Lime is a critical input in copper processing, particularly in flotation and hydrometallurgical operations, and demand is expected to rise as Zambia pursues plans to increase annual copper output to more than 3mn tonnes over the longer term. The project also aligns with Zambia’s broader industrial policy agenda, which seeks to expand domestic manufacturing capacity, strengthen mining-related value chains and reduce reliance on imported industrial materials. Ndola, historically one of Zambia’s main industrial centres, has faced years of economic decline linked to weaker mining activity and industrial closures across the Copperbelt. The joint venture partners plan to restore operations in three phases. Phase 1 will involve construction and commissioning of a lime production plant with capacity of 600 tonnes per day. Phase 2, expected within 12 months of the first phase, will include either a cement-processing facility or a second lime production plant depending on market conditions and commercial demand. Further expansion under Phase 3 will depend on future market developments and industrial demand trends. “This partnership brings a 95-year-old Copperbelt institution into its next chapter as a modern industrial operation,” ZCCM-IH chief executive Kakenenwa Muyangwa said, as quoted by Mining Weekly . Muyangwa said the project reflected the company’s strategy of partnering with industrial operators capable of bringing investment capital, technology and operational scale to Zambia’s mining-related industries. Wonderful Group chief executive Huang Yaochi said restoring industrial-scale lime production was important for Zambia’s long-term industrial and mining-sector growth. Analysts say rising mining investment across Zambia and neighbouring southern African markets is expected to support long-term demand growth for lime, cement and related industrial construction materials. However, lime and cement production remain energy-intensive industries, and the companies have not yet disclosed details regarding power supply, emissions mitigation measures or environmental-management frameworks for the project. © 2026 bne IntelliNews, source Magazine

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