---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-009757"
form_type: "8-K"
ticker: "MSB"
cik: "0000065172"
company_name: "MESABI TRUST"
filed_at: "2026-02-03T23:59:59+00:00"
generated_at: "2026-05-16T05:27:57.133036+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Mesabi Trust receives Q4 2025 royalty payment of $4.94M; iron ore shipments down 14% YoY

## Summary
- Total royalty payment of $4,943,488 received on Jan 30, 2026 from Cleveland-Cliffs.
- Q4 2025 shipments credited to Trust: 956,512 tons vs. 1,110,800 tons in Q4 2024 (-13.9%).
- Base royalty $3,622,142; bonus royalty $1,041,580; prior-period adjustments $66,572.
- Additional $213,194 royalty paid to Mesabi Land Trust.
- Shipments remain subject to idling risk and other factors; quarterly fluctuations expected.

## SEC filing metadata
- accession: 0001104659-26-009757
- form_type: 8-K
- ticker: MSB
- cik: 0000065172
- company_name: MESABI TRUST
- filed_at: 2026-02-03T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/65172/000110465926009757/0001104659-26-009757-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/65172/000110465926009757/msb-20260130x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-009757
- JSON: https://secwatch.observer/filing/0001104659-26-009757.json
- Plain text: https://secwatch.observer/filing/0001104659-26-009757.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.