Dulce de leche

1. Line the bottom of a saucepan with 4 layers of aluminum foil.
2. Place the can of condensed milk (without opening it) on the foil.
3. Fill the saucepan with cold water until the can is covered with about 2.5 cm (1 in.) of water.
4. Heat over high heat. When the water begins to boil, adjust the heat so the water is barely simmering.
5. Cook for about 2 hours and 30 minutes, taking care to add water to compensate for evaporation (the can must be covered with water at all times).
6. Let the can cool completely before opening.
7. With a spoon, stir the mixture until smooth.

Variant:

Cook for 1 hour and 45 minutes for a more liquid and less condensed version that you can use as a topping (with ice cream for example). Or cook up to 3 hours for a consistency that you can spread on toast. (This recipe offers a medium consistency).  

Tip:

In a large saucepan, you can cook several cans at the same time, as they will keep well in the pantry until the expiration date indicated on the can.