Mesabi Tr

MSB NYSE
23.60
0.00
0.00%
Opening 09:43 08/22 EDT
Open
23.65
Prev Close
23.60
High
23.72
Low
23.60
Volume
2.06K
Avg Vol (3M)
60.24K
52 Week High
32.68
52 Week Low
22.79
% Turnover
0.02%
Market Cap
309.63M
1D
5D
1M
3M
1Y
5Y

Company Profile

Mesabi Trust is a royalty trust. The purpose of the Trust is to conserve and protect the Trust Estate. The Trust operates in the iron ore mining segment. The Trust derives income from the Peter Mitchell Mine, an iron mine located near Babbitt, Minnesota, at the eastern end of the Mesabi Iron Range. The lessee/operator of Mesabi Trust's mineral interests is Northshore Mining Corporation (NMC), a subsidiary of Cliffs Natural Resources Inc. (Cliffs). NMC produces iron ore from Mesabi Trust Lands. The principal assets of Mesabi Trust consist of two different interests in certain properties in the Mesabi Iron Range: Mesabi Trust's interest as assignor in the Amended Assignment of Peters Lease and the Amended Assignment of Cloquet Lease and Mesabi Trust's ownership of the entire beneficial interest in the Mesabi Land Trust, which has interest as fee owner in the Peters Lease Lands and a fee ownership in certain non-mineral-bearing lands adjacent to the Peters and Cloquet Lease Lands.
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