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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 ...
The Nauru Phosphate Royalties Trust (NPRT) was a sovereign wealth fund developed by the government of the Republic of Nauru in which the government invested money from the state-owned mining company, Nauru Phosphate Corporation.
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 ...
In 1967, the people of Nauru purchased the assets of the British Phosphate Commissioners, and in June 1970, control passed to the locally owned Nauru Phosphate Corporation (NPC). [40] Income from the mines made Nauruans among the richest people in the world.
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 ]
TAIPEI (Reuters) -The U.S. official who heads the body that handles unofficial ties with Taiwan on Tuesday decried Nauru's "unfortunate" decision to break ties with Taipei shortly after an ...
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.