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The Republic of Nauru Phosphate Corporation (RONPhos) is a government-owned company controlling phosphate mining in Nauru. The company was previously known as the Nauru Phosphate Corporation (NPC). Failed investments
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.
Today the twelve tribes are represented by the twelve-pointed star in the flag of Nauru. Phosphate was discovered on Nauru in 1900 by the prospector Albert Ellis. [10] The Pacific Phosphate Company started to exploit the reserves in 1906 by agreement with Germany. The company exported its first shipment in 1907. [11] [12]
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.
In 1919, the three trustees signed the Nauru Island Agreement, which entitled them to the phosphate of Nauru through the British Phosphate Commissioners. They bought back all the assets of the PPC for more than 3.5 million pounds [ 2 ] on 1 July 1920, and started to manage it directly on 1 January 1921, after a six-month transition period of ...
Phosphate was discovered on Nauru in 1900 by the prospector Albert Fuller Ellis. [36] [30] The Pacific Phosphate Company began to exploit the reserves in 1906 by agreement with Germany, exporting its first shipment in 1907. [29] [40] In 1914, following the outbreak of World War I, Nauru was captured by Australian troops.
The Nauru Rehabilitation Corporation is a state-owned enterprise established by the Republic of Nauru in May 1999, following the passing of the Nauru Rehabilitation Corporation Act in July 1997. Its primary mission is to rehabilitate land destroyed by the phosphate industry , both before and after its independence, making them once again ...