PPC Limited has sold its lime business in a move that will strengthen its balance sheet and may negate the need for a rights issue. It’s the latest positive step by the cement producer, which has been struggling with high debt and a tough market. Its business is also showing signs of a decent recovery from the Covid-19 pandemic. The company sold PPC Lime to Kgatelopele, a consortium that includes IMR Resources South Africa, part of private international commodities company IMR Group, as well as black-owned mining investment companies Kolobe Nala Investment Lime and HEX2M Energy Holdings, and JJCL Mining, an entity owned by former PPC CEO Johannes Claassen. It said Claassen had an in-depth understanding of PPC Lime and its operations.