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Investor Presentaiton

For personal use only US Dollars per Metric Ton 22.8 58.74 94.68 Apr-1992 Apr-1993 Apr-1994 Apr-1995 Apr-1996 Apr-1997 Apr-1998 Apr-1999 Apr-2000 Apr-2001 Apr-2002 Growing Demand and Price Price of Diammonium Phosphate (DAP) Bulk FOB US Gulf Price (US$ per tonne) 1500 1200 900 600 300 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Source: FMB Weekly Phosphates Report. Updated January 26, 2012. DAP is a downstream fertilizer product manufactured from phosphate rock concentrate. 202.5 166.56 130.62 Thermal Coal (indexmundi) Interestingly, the pricing structure of phosphate has uncanny similarities to what happened to coal prices. Compare the Australian thermal coal chart at left to the phosphate chart above. Apr-2003 Apr-2004 Apr-2005 Apr-2006 Apr-2007 Apr-2008 Apr-2009 Apr-2010 Apr-2011 Apr-2012
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