Nauru is teaming up with an Australian company to try to revive its once bustling phosphate industry.
The fertiliser group, Incitec Pivot, will provide materials and engineering expertise to a new company set up by the Nauruan government to operate the phosphate rock operations, at an expected cost of nearly 4.5 million US dollars.
The AAP news agency says the rock would be used to manufacture fertiliser at Incitec Pivot's plants in Victoria and New South Wales
The company says it will recover its investment through the supply of rock over about two years.
The agreement is dependent on the moorings at Nauru being repaired to allow ships to load the phosphate,
