The Government of the Republic of Nauru and its sponsored entity, Nauru Ocean Resources, together with TMC, jointly announced the signing of a revised sponsorship agreement, updating the terms of the agreement signed between the parties in 2017. The agreement guarantees the Republic of Nauru will continue to receive existing financial benefits, training and capacity building programs and in-country community and social programs it receives, while ensuring that, in consideration for its continued sponsorship of NORI, Nauru will receive continuity benefits upon the commencement of commercial production by NORI or another TMC subsidiary.
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