Domestic economy milks P478m from BCL

He told MPs after a tour of the BCL copper-nickel mine over the weekend that the company is the single largest consumer of power in the country at 18 percent annually. He said BCL pays more than P300 million in salaries per year and has an annual power bill of P120 million.

He explained that the company's fortunes have revived largely due to favourable global metal prices. In the past, the copper-nickel mine relied on government funding for survival but the situation has changed and now it is making profits.