Headquartered in New York, NY Fiscal year ends January NYSE: MSB mesabi-trust.com
Mesabi Trust is a royalty trust that receives iron ore royalties from Cleveland-Cliffs Inc.'s subsidiary, Northshore Mining Company, based on the volume and pricing of iron ore pellets and other products produced or shipped from the Trust's lands near Silver Bay, Minnesota. The Trust does not operate mines directly; instead, it collects base and bonus royalties determined by shipment volumes, iron ore pricing (including third-party sale prices), and the proportion of production from Mesabi Trust lands versus non-Mesabi Trust lands. Royalties are then distributed to Unitholders. The Trust's financial performance is highly dependent on Cleveland-Cliffs' operational decisions, customer demand for steel and iron ore, Great Lakes shipping conditions, and the availability of third-party sale transactions that set pricing benchmarks. Deutsche Bank Trust Company Americas serves as the Corporate Trustee. Units of the Trust trade on the New York Stock Exchange under the ticker MSB. Updated
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Mesabi Trust is a royalty trust that receives iron ore royalties from Cleveland-Cliffs Inc.'s subsidiary, Northshore Mining Company, based on the volume and pricing of iron ore pellets and other products produced or shipped from the Trust's lands near Silver Bay, Minnesota.
The Wall Street consensus 12-month price target for MSB is $33.00.
