Mining

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Phosphate mining making a comeback in Nauru.
Photographer: Lorrie Graham

High commodity prices are helping some Pacific island countries. In Papua New Guinea, mineral revenue increased roughly seven-fold from just over US$100 million in 2002 to about US$700 million in 2007. Timor-Leste can expect to gain billions of dollars in revenue from the Bayu Undan and Greater Sunrise gas fields, while gold mining will lift the economies of Fiji and Solomon Islands. Nauru’s recently resurrected phosphate mining industry is already making a difference to its economy with growth estimated at between 10 and 15 per cent in 2007.