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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.
Ganapath: A Hero is Born is a 2023 Indian Hindi-language dystopian sports action film written and directed by Vikas Bahl, who also produced the film in association with Jackky Bhagnani, Vashu Bhagnani and Deepshikha Deshmukh.
Nauru is a phosphate-rock island with rich deposits near the surface, which allowed easy strip mining operations for over a century. However, this has seriously harmed the country's environment, causing the island nation to suffer from what is often referred to as the " resource curse ".
Phosphate mining, Nauru, 1919. 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]
By Ryan Woo. BEIJING (Reuters) -A reporter from Xinhua landed in Nauru on Wednesday, the first from China's official news agency to step foot on the remote Pacific Islands nation after it ditched ...
The Gathering (ABC, 1977) Directed by Randell Klaiser (pre-Grease). Written by James Poe. Amid his fame from The Mary Tyler Moore Show, and the groundbreaking Rich Man, Poor Man mini-series, Ed ...
The government puts profits from the mining into a trust for the islanders. This trust reached a peak of A$1 billion, returning approximately 14% annually. Poor investments and corruption have left the trust fund nearly empty and therefore Nauru with little money. In the year 1948, revenues from phosphate mining were A$745,000.
Nauru budget documents show two-thirds of government revenue last year came from fees paid by Australia to host a refugee processing centre, which began to be wound down in July.