LUSAKA, May 27 – Zambia’s state-operated mining investment company, ZCCM Investments Holdings has agreed to sell a controlling stake in Ndola Lime to a Chinese investor as Zambia continues efforts to revive industrial assets linked to its mining sector expansion.
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 further $5 million loan facility to support operations.
The transaction is expected to help restore activity at Ndola Lime, which entered insolvency proceedings in 2018 after years of operational and financial difficulties.
Authorities said the investment reflects growing momentum across Zambia’s broader mining value chain as renewed copper sector activity increases demand for industrial processing materials and construction-related products.
The deal also highlights expanding Chinese investment interest in Zambia’s resource-linked industries beyond direct mining operations.
Wonderful Group has steadily expanded its footprint in Zambia over the past decade, developing businesses across sectors including fertilizer production, manufacturing, construction materials and agriculture.
The company has become one of the country’s largest foreign-owned industrial groups since entering the Zambian market in 2011.
For Zambia, the revival of Ndola Lime forms part of wider efforts to strengthen industrial capacity supporting the mining industry while attracting long-term strategic investors into key sectors of the economy.
The transaction also underscores how increased mining activity is generating opportunities across supporting industries such as cement, lime production and infrastructure development.
