Zambia’s state-owned mining investment company, ZCCM Investments Holdings, has agreed to sell a controlling stake in Ndola Lime to a Chinese investor, as the country continues efforts to revive industrial assets tied to its expanding mining sector.
Under the agreement, Wonderful Group of Companies will acquire a 55% shareholding in the lime and cement producer for $25 million, while also extending a $5 million loan facility to support operations.
The transaction is expected to restore activity at Ndola Lime, which entered insolvency proceedings in 2018 following years of operational and financial difficulties.
Authorities say the investment reflects growing momentum across Zambia’s broader mining value chain, as renewed copper sector activity drives demand for industrial processing materials and construction-related products.
The deal also highlights deepening Chinese investment interest in Zambia’s resource-linked industries beyond direct mining operations.
Wonderful Group has steadily expanded its presence in Zambia over the past decade, building businesses across fertilizer production, manufacturing, construction materials, and agriculture. Since entering the Zambian market in 2011, the company has grown into one of the country’s largest foreign-owned industrial groups.
For Zambia, the revival of Ndola Lime forms part of wider efforts to strengthen the industrial capacity underpinning its mining industry while attracting long-term strategic investors into key sectors of the economy. The transaction further underscores how increased mining activity is generating opportunities across supporting industries, including cement, lime production and infrastructure development.
