2007 Net Sales

31% of total

2007 Gross Margin

23% of total

Where it comes from

Phosphorus is found in deposits containing ancient sea fossils. Our phosphate is mined from rock beds located in the southeastern United States.

Applications

Fertilizer Critical to photosynthesis and other key energy reactions in plants; speeds crop maturity and reproduction and increases yields

Feed supplements Necessary for skeletal development and repair of animal muscles

Industrial Used in soft drinks, food products and metal treatment

Competitive Strengths

• Access to significant high-quality, low-cost phosphate rock reserves
• Ability to direct low-impurity phosphate rock to diversified product line to optimize margins
• Proximity between mining and processing facilities (provides cost advantage over other North American competitors)
• Strong position in North American purified acid and feed phosphate markets

Strategies

• Leverage flexibility enabled by high-quality phosphate rock to optimize product sales mix, maximize long-term gross margin and stabilize earnings