Mesabi Trust declares $0.56/unit quarterly distribution, up 93% from $0.29/unit year ago

MESABI TRUST

Distribution of $0.56/unit declared, payable May 20, 2025 to holders of record April 30, 2025.
Royalty payments from Cleveland-Cliffs increased to $8,986,464 in Jan 2025 from $6,432,434 in Jan 2024.
Distribution reflects higher royalty receipts but also uncertainties from Cliffs' scrap iron shift, iron ore volatility, and tariffs.
No update on Cliffs' 2025 Northshore operations; next quarterly royalty report due April 30, 2025.

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