Nauru gets
p. 132 · Read in the full issue
more for phosphate
Nauru in early September won a 30 cent increase in the price of its phosphate supplied to the three British Phosphate Commissioners— Britain, Australia and New Zealand.
The rise means an extra $525,000 to Nauru in 1970-71 when it will sell 1.75 million tons of phosphate to the commissioners at $12.30 per ton f.o.b. In 1971-72 it will supply 1.35 million tons at a price to be negoti ated.
The increase follows tough and prolonged bargaining between the Nauruans and the commissioners, during which Nauru threatened to sell direct to Australian manufacturers.
Australia said import restrictions would be made if the Nauruans sold direct, and this threat was dropped.
The commissioners agreed to ship the rock in vessels owned or chartered by Nauru, and also allowed Nauru to sell rock to other customers.
Nauru has already sold phosphate to Japan and is hopeful of selling m rvro Australia and NZ have previously been taking two million tons of phos phate a year from Nauru. Main reason for the decrease in quantities to be supplied in 1970-71 and 1971- 72 is the current excess stockpile in Australia and NZ, caused by droughts over the past two years.