Mesabi Trust

Mesabi Trust is an income-generating royalty trust that derives its revenue from iron ore mining operations. It was established to benefit from the taconite iron ore deposits located in the Mesabi Iron Range in northeastern Minnesota. The primary purpose of Mesabi Trust is to manage and distribute income generated from the mining activities carried out on its leased lands by its operator, Northshore Mining Corporation, a subsidiary of Cleveland-Cliffs Inc. Mesabi Trust holds interests in various mining properties and collects royalties based on the volume of ore extracted and other financial arrangements. The trust plays a crucial role in the iron and steel industry by providing essential raw materials that are foundational to steel production. Its financial performance is closely linked to global steel demand and the pricing dynamics of iron ore. Mesabi Trust's significance in the financial market is reflected in its capacity to provide stable income streams to its beneficiaries, particularly during times of robust industrial activity. As an income-focused asset, it appeals to investors who prioritize dividend income, especially those interested in the commodities sector.