by Henk on 15 Sep 2011 22:01
Well, you're at least partly correct...
In 1899 high-quality phosphate had been discovered on Nauru by the British Pacific Islands Company Ltd. Because the Jaluit-Gesellschaft had the exclusive mining rights, the Nauru phosphate soon became the Gesellschaft’s most valuable possession. Without having to organize mining activities, they assigned the Nauru concession to the new Pacific Phosphate Company Ltd., established in 1902 in London. In return for the assignment the Jaluit-Gesellschaft received shares in this company, as well as royalties per ton for phosphate mined.
As their mining operations progressed, the Pacific Phosphate Company paid dividends between 30% and 50%, while the Jaluit-Gesellschaft could present their shareholders with the richest dividends ever paid to German investors in the Pacific: as high as 84% in 1913.
After the war, in 1920, mining activities of the Pacific Phosphate Company were continued by the British Phosphate Commission, which operated under an agreement between the governments of Britain, Australia and New Zealand.
Following the independence of Nauru in 1968, phosphate mining became controlled by the state-owned Nauru Phosphate Corporation…
Your turn, - Henk