Nauru is a single, raised coralline island with a land area of only 21 km2 but with an EEZ, which extends over 320,000 km2. Nauru lies 42km (26 miles) south of the equator. Its nearest neighbour is Ocean Island (Banaba, part of Kiribati). The economy is based on phosphate mining, export of phosphate providing the island’s only income, apart from overseas investment.