Mine records loss

The National Business

BOUGAINVILLE Copper Limited (BCL) has recorded a consolidated loss of K10.6 million for last year ending Dec 31 compared to a loss of K7.3 million previous year.
Chairman Sir Melchior Togolo said the loss was attributed to the cost of running the company which includes K3.5 million of direct project expenditure.
He said expenditure was concentrated on tenure issues, stakeholder engagement and community project delivery. Togor, during the company’s annual general meeting in Port Moresby yesterday said that a change in accounting standards for last year meant that realised gains on the sales of investment for the year of K4.1 million will no longer be recorded as income for the year in the income statement.