As Mr T says, there is a large discussion on this here on the forum. The oil consumption on these Coopers are high, and if run low for too long, suffer from timing chain rattles and / or chain failiures.
Personally, I wouldn't touch one of these PSA engined Minis due to their well documented history of failiures and would advise others steer clear too, but as you are a current owner the best you can do is keep a keen eye on the level, top up using a good quality oil and also make sure the servicing is carried out on schedule using quality oils and filters.
It won't stop it being a heavy drinker, but should at least make it last a while longer !
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