Iron mining

Mesabi Trust Press Release

Retrieved on: 
Monday, July 12, 2021
Banking, Professional services, Finance, Geology of Minnesota, Economic geology, Iron mining, Mesabi Range, Royalty payment, Trust law, Law, Articles, Legal systems

The Trustees of Mesabi Trust (NYSE:MSB) declared a distribution of nine cents ($0.09) per Unit of Beneficial Interest payable on August 20, 2021 to Mesabi Trust Unitholders of record at the close of business on July 30, 2021.

Key Points: 
  • The Trustees of Mesabi Trust (NYSE:MSB) declared a distribution of nine cents ($0.09) per Unit of Beneficial Interest payable on August 20, 2021 to Mesabi Trust Unitholders of record at the close of business on July 30, 2021.
  • After receiving the quarterly royalty report, Mesabi Trust plans to file a summary of the quarterly royalty report with the Securities and Exchange Commission in a Current Report on Form 8-K.
  • Further, substantial portions of royalties earned by Mesabi Trust are based on estimated prices that are subject to quarterly and final adjustments, which can be positive or negative, and are dependent in part on multiple price and inflation index factors under customer agreements to which Mesabi Trust is not a party and that are not known until after the end of a contract year.
  • Mesabi Trust undertakes no obligation to publicly update or revise any of the forward-looking statements made herein to reflect events or circumstances after the date hereof.

USW Welcomes Chance to Continue Long-Stalled Iron Range Mine Project

Retrieved on: 
Thursday, May 6, 2021
Economic geology, Geology of Minnesota, Iron mining, Mining, Geology, Earth sciences, Mesabi Range, Taconite, United Steelworkers, Iron Range, Cleveland-Cliffs, Iron ore

b'MINNEAPOLIS, May 6, 2021 /PRNewswire/ --The United Steelworkers (USW) union said today that it supported the Minnesota Department of Natural Resources (DNR) announcement on Wednesday that it would begin the process of canceling mineral leases held by Mesabi Metallics for a long-planned taconite mine on the state\'s iron range.\nThat decision clears the way for another company, possibly Cleveland-Cliffs, to develop the project near Nashwauk, Minn. Cliffs already operates several other iron ore mining sites in the region.\n"Iron ore mining is an essential part of the economy of Minnesota, and an essential piece of the puzzle when it comes to producing the steel we need to rebuild our national infrastructure," said USW District 11 Director Emil Ramirez, who represents tens of thousands of union workers in Minnesota and eight other Midwestern states.\n"The former Mesabi Metallicsmine project has the potential to deliver hundreds of good-paying, family-supporting jobs to the hard-working people of the Iron Range," Ramirez said.

Key Points: 
  • b'MINNEAPOLIS, May 6, 2021 /PRNewswire/ --The United Steelworkers (USW) union said today that it supported the Minnesota Department of Natural Resources (DNR) announcement on Wednesday that it would begin the process of canceling mineral leases held by Mesabi Metallics for a long-planned taconite mine on the state\'s iron range.\nThat decision clears the way for another company, possibly Cleveland-Cliffs, to develop the project near Nashwauk, Minn. Cliffs already operates several other iron ore mining sites in the region.\n"Iron ore mining is an essential part of the economy of Minnesota, and an essential piece of the puzzle when it comes to producing the steel we need to rebuild our national infrastructure," said USW District 11 Director Emil Ramirez, who represents tens of thousands of union workers in Minnesota and eight other Midwestern states.\n"The former Mesabi Metallicsmine project has the potential to deliver hundreds of good-paying, family-supporting jobs to the hard-working people of the Iron Range," Ramirez said.
  • "Making sure that this project is in the hands of a company that will move forward in a timely, responsible and sustainable way is the best decision for the people of Minnesota.
  • "\nThe USW represents 850,000 workers employed in metals, mining, pulp and paper, rubber, chemicals, glass, auto supply and the energy-producing industries, along with a growing number of workers in health care, public sector, higher education, tech and service occupations.\nView original content to download multimedia: http://www.prnewswire.com/news-releases/usw-welcomes-chance-to-continue-...\n'

Mesabi Trust Press Release

Retrieved on: 
Monday, May 3, 2021
Banking, Professional services, Finance, Geology of Minnesota, Economic geology, Iron mining, Mesabi Range, Royalty payment, Trust law, Essar Group, Law, Articles, Academic disciplines

For the three months ended March 31, 2021, Mesabi Trust was also credited with a bonus royalty in the amount of $3,658,148.

Key Points: 
  • For the three months ended March 31, 2021, Mesabi Trust was also credited with a bonus royalty in the amount of $3,658,148.
  • Accordingly, the total royalty payments received by Mesabi Trust on April 30, 2021 from Cliffs were $6,340,032.\nThe royalties paid to Mesabi Trust are based on the volume of shipments of iron ore pellets for the quarter and the year to date, the pricing of iron ore product sales, and the percentage of iron ore pellet shipments from Mesabi Trust lands rather than from non-Mesabi Trust lands.
  • These multiple factors can result in significant variations in royalties received by Mesabi Trust (and in turn, the resulting funds available for distribution to Unitholders by Mesabi Trust) from quarter to quarter and from year to year.
  • Based on the above factors, and as indicated by Mesabi Trust\xe2\x80\x99s historical distribution payments, the royalties received by Mesabi Trust, and the distributions paid to Unitholders, if any, in any particular quarter are not necessarily indicative of royalties that will be received, or distributions that will be paid, if any, in any subsequent quarter or full year.\nWith respect to calendar year 2021, Northshore has not advised Mesabi Trust of its expected shipments of iron ore products, or what percentage of 2021 shipments will be from Mesabi Trust iron ore.

Mesabi Trust Press Release

Retrieved on: 
Monday, April 12, 2021
Banking, Professional services, Finance, Geology of Minnesota, Iron mining, Economic geology, Mesabi Range

b'The Trustees of Mesabi Trust (NYSE:MSB) declared a distribution of eighty-nine cents ($0.89) per Unit of Beneficial Interest payable on May 20, 2021 to Mesabi Trust Unitholders of record at the close of business on April 30, 2021.

Key Points: 
  • b'The Trustees of Mesabi Trust (NYSE:MSB) declared a distribution of eighty-nine cents ($0.89) per Unit of Beneficial Interest payable on May 20, 2021 to Mesabi Trust Unitholders of record at the close of business on April 30, 2021.
  • The Trust\xe2\x80\x99s announcement today also reflects the Mesabi Trustees\xe2\x80\x99 determination that Mesabi Trust presently has sufficient reserves available to make such a distribution while also maintaining an appropriate level of unallocated reserve in order for the Trust to be positioned to meet current and future expenses, and present and future liabilities (whether fixed or contingent), that may reasonably arise in the iron ore and steel industries generally.\nQuarterly royalty payments from Northshore for iron ore shipments during Northshore\xe2\x80\x99s first calendar quarter, which are payable to Mesabi Trust under the royalty agreement, are due on April 30, 2021, together with the quarterly royalty report.
  • Further, substantial portions of royalties earned by Mesabi Trust are based on estimated prices that are subject to quarterly and final adjustments, which can be positive or negative, and are dependent in part on multiple price and inflation index factors under agreements to which Mesabi Trust is not a party and that are not known until after the end of a contract year.
  • Mesabi Trust undertakes no obligation to publicly update or revise any of the forward-looking statements made herein to reflect events or circumstances after the date hereof.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210412005890/en/\n'

CN Investing $25 Million in Minnesota

Retrieved on: 
Wednesday, July 29, 2020
Economic geology, Geology of Minnesota, Iron mining, Regions of the United States, Academic disciplines, Taconite, Geology, Duluth, Minnesota, Iron ore, Minnesota, Iron Range, Duluth, Missabe and Iron Range Railway

We take our essential role in the North American economy seriously and these investments in Minnesota are a key part of our strategy to support growth.

Key Points: 
  • We take our essential role in the North American economy seriously and these investments in Minnesota are a key part of our strategy to support growth.
  • Investment in rail transportation infrastructure is critical to long-term economic growth and jobs across Minnesota.
  • CNs sustained commitment to robust freight rail investment and continued partnership will go a long way as Minnesota charts a bold path to economic recovery.
  • The North Star State is home to CNs Iron Ore Supply Chain, which brings taconite pellets from the Minnesota Iron Range mines to the CN docks in Duluth and Two Harbors.

Mesabi Trust Press Release

Retrieved on: 
Tuesday, May 5, 2020
Professional services, Manufacturing, Finance, Other Manufacturing, Banking, Steel, Economic geology, Geology of Minnesota, Mining, Iron mining, Mesabi Range, Iron ore

As reported to Mesabi Trust by Cliffs in the Royalty Report, based on shipments of iron ore products by Northshore during the three months ended March 31, 2020, Mesabi Trust was credited with a base royalty of $632,804.

Key Points: 
  • As reported to Mesabi Trust by Cliffs in the Royalty Report, based on shipments of iron ore products by Northshore during the three months ended March 31, 2020, Mesabi Trust was credited with a base royalty of $632,804.
  • The royalties paid to Mesabi Trust are based on the volume of shipments of iron ore pellets for the quarter and the year to date, the pricing of iron ore product sales, and the percentage of iron ore pellet shipments from Mesabi Trust lands rather than from non-Mesabi Trust lands.
  • These multiple factors can result in significant variations in royalties received by Mesabi Trust (and in turn, the resulting funds available for distribution to Unitholders by Mesabi Trust) from quarter to quarter and from year to year.
  • With respect to calendar year 2020, Northshore has not advised Mesabi Trust of its expected shipments of iron ore products, or what percentage of 2020 shipments will be from Mesabi Trust iron ore.

Cleveland-Cliffs Inc. Announces Earlier Date for Fourth-Quarter and Full-Year 2019 Earnings Results

Retrieved on: 
Wednesday, February 5, 2020
Other Natural Resources, Mining, Minerals, Manufacturing, Natural Resources, Other Manufacturing, Steel, Economic geology, Cleveland-Cliffs Inc., Mining, Iron ore, Pellet, Iron mining, Geology of Minnesota, Marquette Iron Range, Iron mining in the United States

If you are unable to participate during the live webcast, the call will also be archived at the web address listed above.

Key Points: 
  • If you are unable to participate during the live webcast, the call will also be archived at the web address listed above.
  • Founded in 1847, Cleveland-Cliffs Inc. is the largest and oldest independent iron ore mining company in the United States.
  • The company is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota.
  • Driven by the core values of safety, social, environmental and capital stewardship, Cliffs employees endeavor to provide all stakeholders with operating and financial transparency.

Cleveland-Cliffs Inc. to Announce Fourth-Quarter and Full-Year 2019 Results on February 27

Retrieved on: 
Wednesday, January 15, 2020
Mining, Minerals, Natural Resources, Economic geology, Cleveland-Cliffs Inc., Mining, Iron ore, Pellet, Iron mining, Geology of Minnesota, Marquette Iron Range, Iron mining in the United States

If you are unable to participate during the live webcast, the call will also be archived at the web address listed above.

Key Points: 
  • If you are unable to participate during the live webcast, the call will also be archived at the web address listed above.
  • Founded in 1847, Cleveland-Cliffs Inc. is the largest and oldest independent iron ore mining company in the United States.
  • The company is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota.
  • Driven by the core values of safety, social, environmental and capital stewardship, Cliffs employees endeavor to provide all stakeholders with operating and financial transparency.

Mesabi Trust Press Release

Retrieved on: 
Monday, December 9, 2019
Banking, Professional services, Finance, Equity, Geology of Minnesota, Mining, Economic geology, Iron mining, Mesabi Range, Law, Cleveland-Cliffs Inc., Trust law, Declaratory judgment, Royalty payment

The Trustees of Mesabi Trust (NYSE:MSB) today reported that the Trust has initiated arbitration against Northshore Mining Company and its parent, Cleveland-Cliffs Inc. (jointly, the Operator), the lessee/operator of the leased lands.

Key Points: 
  • The Trustees of Mesabi Trust (NYSE:MSB) today reported that the Trust has initiated arbitration against Northshore Mining Company and its parent, Cleveland-Cliffs Inc. (jointly, the Operator), the lessee/operator of the leased lands.
  • The Trust asserts claims concerning the calculation of royalties related to the production, shipment and sale of iron ore, including DR-grade pellets.
  • Based on information currently available to the Trust, the Trust seeks an award of damages, along with specific performance and declaratory relief.
  • Although the Mesabi Trustees believe that any such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties, which could cause actual results to differ materially.

Cleveland-Cliffs to Webcast Presentation by Lourenco Goncalves at Upcoming Goldman Sachs Conference

Retrieved on: 
Friday, November 15, 2019
Engineering, Other Natural Resources, Mining, Minerals, Manufacturing, Natural Resources, Other Manufacturing, Steel, Economic geology, Cleveland-Cliffs Inc., Mining, Iron ore, Pellet, Iron mining, Geology of Minnesota, Marquette Iron Range, Iron mining in the United States

If you are unable to participate during the live webcast, the call will be archived at www.clevelandcliffs.com .

Key Points: 
  • If you are unable to participate during the live webcast, the call will be archived at www.clevelandcliffs.com .
  • Founded in 1847, Cleveland-Cliffs Inc. is the largest and oldest independent iron ore mining company in the United States.
  • The company is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota.
  • Driven by the core values of safety, social, environmental and capital stewardship, Cliffs employees endeavor to provide all stakeholders with operating and financial transparency.