---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-22-011662"
form_type: "8-K"
ticker: "MSB"
cik: "0000065172"
company_name: "MESABI TRUST"
filed_at: "2022-08-02T23:59:59+00:00"
generated_at: "2026-06-24T06:08:33.601823+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Mesabi Trust Q2 royalty plunges 86% YoY; Cliffs extends Northshore idling to at least April 2023

## Summary
- Royalty payment of $2,314,994 on 198,495 tons shipped vs 1,393,902 tons in Q2 2021.
- Cliffs CEO Lourenco Goncalves announced Northshore idle extended through at least April 2023; 'we will keep Northshore idle until we decide otherwise'.
- Minimum advance royalty for 2022 is $1,034,237; Northshore must pay quarterly if overriding royalties fall short.
- Existing 1989 royalty agreement unchanged; any amendment requires approval of 66 2/3% of unitholders.

## SEC filing metadata
- accession: 0001558370-22-011662
- form_type: 8-K
- ticker: MSB
- cik: 0000065172
- company_name: MESABI TRUST
- filed_at: 2022-08-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/65172/000155837022011662/0001558370-22-011662-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/65172/000155837022011662/msb-20220729x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-22-011662
- JSON: https://secwatch.observer/filing/0001558370-22-011662.json
- Plain text: https://secwatch.observer/filing/0001558370-22-011662.txt

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