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Get to Know About Nauru
Nauru, located in Australia’s Northeastern side, is a small island nation. Earlier, Nauru had rich deposits of phosphate, and at that period substantial mining activities had caused extensive damage to it. The economy is leaning very much on aid from other nations.
Industries like tourism are not developed in Nauru. The literacy rate is currently high here as the primary education being made compulsory by the government of Nauru. There is only one international airport in Nauru. Nauru has depended on revenues from the detention center of Australia which runs there. The currency of Nauru is the Australian dollar.
The sea floor surrounding the island of Nauru is believed to be rich in minerals, and undersea mining is a potential industry that can develop there. The minerals that are found here include nickel and cobalt. Initial explorations have shown the presence of nodules of minerals in the sea bed. It is believed that Nauru’s economy will reap the benefits when mining starts there, hence the potential investors are interested in doing business in Nauru. The firm Deep Green is providing skills and jobs in exploration to locals of Nauru.
The challenges in Nauru include underdeveloped infrastructure. The public debt is still huge as Nauru is very much dependent on help from other nations. The nation does not have drinking water resources and depends on the desalination of seawater.