Ok Tedi Mining Ltd in Papua New Guinea has posted a net annual profit of 472 million US dollars.
This compares with 621 million in 2011.
The newspaper, The National, reports Sir Mekere Morauta - who was recently terminated by the government as chairman of the OTML - as saying the company filtered nearly a billion US dollars into the PNG economy through dividends and taxes.
Sir Mekere says pending a decision on the extension of the life of the mine, the company has been managing ore reserves to achieve maximum value as gold and copper grades decline.
The government also recently moved to sack Sir Mekere as chairman of the Sustainable Development Programme, which until last month held 63 percent of the stock in OTML.
The government expropriated those shares through an act of parliament in September and last week sacked the SDP board, but Sir Mekere says this was unlawful.
The SDP says as a Singaporean incorporated company it will seek legal redress in that jurisdiction.
