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In the early years of the Nauru Phosphate Royalties Development Trust, it financed the construction of two of five high-rise luxury condos in Hawaii (on the island of Oahu). The five towers (two completed as of October 2005) are on prime Honolulu real estate with ocean views and represent a benchmark in Honolulu luxury high-rises.
Ellis' discovery of phosphate excited John T. Arundel of the Pacific Islands Company and the company decided to pursue rights and access to Nauru's lucrative resource. The negotiations to pursue rights to the phosphate involved four parties: the British and German governments, the newly reorganised Pacific Phosphate Company, and Jaluit-Gesellschaft (a German mining company that had been ...
In 1970, the newly independent government of Nauru purchased the mining rights to the island's lucrative phosphate mines from their previous colonial ruler, Australia, for A$21 million. The mines brought considerable wealth to the tiny island of Nauru, with the industry bringing in around A$100–120 million annually.
It is situated around 20 kilometres (12 mi) south of the ancient city of Anuradhapura and 150 kilometres (93 mi) north east of Sri Lankan capital Colombo. Eppawala and its surroundings are located within a geological region of high-grade phosphate deposits – Sri Lanka's only phosphate deposits.
The effects of phosphate mining in Nauru have had significant negative impacts on the island's environment and economy. [1] One of the most prominent effects of the phosphate mining in Nauru is the extensive environmental degradation that has occurred as a result of the extraction of phosphates. [ 2 ]
Republic of Nauru Phosphate Corporation This page was last edited on 15 June 2023, at 17:28 (UTC). Text is available under the Creative Commons Attribution ...
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In the years after independence in 1968, Nauru possessed the highest GDP per capita in the world due to its rich phosphate deposits. In anticipation of the exhaustion of phosphate deposits, a substantial amount of the income from phosphates was invested in trust funds aiming to help cushion the transition and provide for Nauru's economic future.