Published: September 03, 2018
The once-wealthy island now barely survives on income from Australia’s detention regime and is pinning its economic hopes on undersea mining
Nauru is banking on fields of mineral-rich smooth brown rocks about the size of a potato that lie on the sea floor around the tiny island as the possible saviour of its fragile economy.
For the island nation of just 10,000 people, financial viability has been a pressing problem since the exhaustion of its rich phosphate deposits in the 1970s.
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