Background: Named in 1643 for the day of its discovery the island was annexed and settlement was begun by the UK in 1888. Phosphate mining began in the 1890s. The UK transferred sovereignty to Australia in 1958. The phosphate mine closed in 1987 was reopened four years later but the need for an alternative industry has spurred investment in tourism. Old mining areas are being restored and almost two-thirds of the island has been declared a national park.
Economy overview: Phosphate mining had been the only significant economic activity but in December 1987 the Australian Government closed the mine. In 1991 the mine was reopened by union workers. With the support of the government Australian-based Casinos Austria International Ltd. built a $34 million casino on Christmas Island which opened in 1993. As of yearend 1999 gaming facilities at the casino were temporarily closed but were expected to reopen in early 2000. Another economic prospect is the possible location of a space-launching site on the island.