The government of Democratic Republic of Congo is planning to privatise some of its most valuable mining assets, as well as take a larger share of any future discoveries made in the mineral-rich country.

Victor Kasongo, Congo’s deputy minister of mines, said on Friday that “a major future initiative” for the government was the transformation of state-owned mining companies into commercial entities. He said new management would be drafted in to turn round ailing businesses and then they could be floated through an initial public offering or stakes could be sold to private mining groups.