UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 14, 2016
MESABI TRUST
(Exact name of registrant as specified in its charter)
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New York |
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1-4488 |
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13-6022277 |
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(State or other jurisdiction of |
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(Commission File Number) |
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(I.R.S. Employer Identification |
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c/o Deutsche Bank Trust Company Americas |
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10005 |
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(Address of principal executive offices) |
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(Zip Code) |
(904) 271-2520
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD.
On March 14, 2016, Mesabi Trust issued a press release announcing that Cliffs Natural Resources Inc. (“Cliffs”), the parent company of Northshore Mining Company (“Northshore”), announced on March 14, 2016 that Cliffs will be restarting iron ore pellet production at its Northshore mining operation in Minnesota by May 15, 2016. A copy of the press release is being furnished as Exhibit 99.1 to this Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release, dated March 14, 2016.
In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MESABI TRUST | |
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By: |
/s/ Jeffrey Schoenfeld |
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Jeffrey Schoenfeld |
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Vice President |
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Deutsche Bank National Trust Company |
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For Deutsche Bank Trust Company Americas |
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Corporate Trustee of Mesabi Trust |
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Dated: March 15, 2016 |
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Exhibit 99.1
MESABI TRUST PRESS RELEASE
New York, New York
March 14, 2016
The Trustees of Mesabi Trust (NYSE: MSB) are reporting that Cliffs Natural Resources Inc. (“Cliffs”), the parent company of Northshore Mining Company (“Northshore”), announced today that it will be restarting iron ore pellet production at its Northshore mining operation in Minnesota by May 15, 2016. Iron ore pellet production at Northshore has been temporarily idled since December 1, 2015. Cliffs stated that it is taking such action based on its domestic customers’ demand for iron ore pellets and consistent with its previously announced production plans for the year.
In its news release today, the President and Chief Executive Officer of Cliffs was quoted as saying: “In 2015, Cliffs developed at Northshore Mining a new product, the DR-grade pellets used as feedstock to DRI production. As we restart operations at Northshore in May, we will also resume the production of DR-grade pellets destined to EAF clients.” Cliffs previously announced in November 2015 that it would maintain minimal staffing during the temporary idle for basic maintenance duties and for on-going work to support the DR-grade pellet trials.
With respect to the remainder of calendar year 2016, Northshore has not advised Mesabi Trust of its expected 2016 shipments of iron ore products or what percentage of 2016 shipments will be from Mesabi Trust iron ore.
This press release contains certain forward-looking statements with respect to iron ore pellet production, shipments by Northshore in 2016, and other matters, which statements are intended to be made under the safe harbor protections of the Private Securities Litigation Reform Act of 1995, as amended. Actual production, prices, price adjustments, and shipments of iron ore pellets, as well as actual royalty payments (including bonus royalties) could differ materially from current expectations due to inherent risks such as general and industry economic trends, uncertainties arising from war, terrorist events and other global events, higher or lower customer demand for steel and iron ore, decisions by mine operators regarding curtailments or idling production lines or entire plants, plant closures, environmental compliance uncertainties, difficulties related to obtaining and renewing necessary operating permits, higher imports of steel and iron ore substitutes, consolidation and restructuring in the domestic steel market, indexing features in Cliffs Pellet Agreements resulting in adjustments to royalties payable to Mesabi Trust and other factors. Further, substantial portions of royalties earned by Mesabi Trust are based on estimated prices that are subject to interim 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. Although the Mesabi Trustees believe that any such forward-looking statements are based on reasonable assumptions, such statements speak only as of the date of this release, and are subject to risks and uncertainties, which could cause actual results to differ materially. Additional information concerning these and other risks and uncertainties is contained in the Trust’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K. Except as may be required by applicable securities laws, Mesabi Trust undertakes no obligation to publicly update or revise any of the forward-looking statements that may be in this press release.
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Contact: |
Mesabi Trust SHR Unit |
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Deutsche Bank Trust Company Americas |
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(904) 271-2520 |