Safety is a core part of our culture at Mosaic. Our actions today have demonstrated this.

Our actions today demonstrate our commitment to high safety standards. New England is facing a winter of very high natural gas prices. The region sorely needs additional gas supplies and a stronger gas infrastructure.

Our miners followed these procedures to the letter, and that's what saved them. They sealed themselves in (underground refuges) so they'd have clean air to breathe.

They have a lot of air, they can house 25 people, a full crew, for 36 hours, and they can release oxygen in these rooms. There are chairs, cots - this is not the Ritz - first-aid stuff, things that you would want to sustain life.

Looking to the remainder of our fiscal year, we anticipate stronger fourth quarter sales, but expect a much weaker third quarter in light of continued delays in our customers' purchasing decisions. In response, we have cut back our production of potash and phosphates to limit increases in our inventories, especially because of current high raw material costs, and to better match supply with current purchasing activity. As a consequence, the industry may face acute logistical challenges when spring season begins if domestic shipments don't accelerate soon.

The company performed well in the second quarter despite soaring energy prices, leading to high raw material prices, and production outages caused by Hurricanes Katrina and Rita. We remain focused on executing our business strategy, managing our operating costs, improving our business systems, and producing to meet expected demand. At the same time, energy-driven record high fertilizer prices have caused many of our customers to delay their purchasing decisions. As a result we expect a challenging third quarter.