- Current report filing (8-K)
March 05 2009 - 5:11PM
Edgar (US Regulatory)
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 4, 2009
MESABI TRUST
(Exact name of
registrant as specified in its charter)
New
York
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1-4488
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13-6022277
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(State or other
jurisdiction of
incorporation)
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(Commission File
Number)
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(I.R.S. Employer
Identification
Number)
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c/o
Deutsche Bank Trust Company Americas
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Trust &
Securities Services GDS
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60 Wall
Street
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27th
Floor
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New
York, New York
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10005
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(Address of
principal executive offices)
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(Zip Code)
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(615)
835-2749
(Registrants
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 8.01
Other
Events.
On February 25, 2009, Cliffs Natural Resources Inc. (Cliffs) filed
a current report on Form 8-K that announced a one-month production
shutdown of its wholly-owned subsidiary, Northshore Mining Company (Northshore),
to occur during April 2009. Cliffs
reported that the curtailment will reduce production at Northshore to
approximately 3.7 million tons in 2009. Cliffs filing stated that the announcement
reflects continuing difficult economic conditions of the global steel and iron
ore industry.
Cliffs also reported that
Northshore anticipates restarting its two larger pelletizing lines at the
beginning of May 2009. Cliffs noted in its announcement that Northshore
has the capability to produce 5.8 million tons annually when operated at its
full capacity.
Mesabi Trust receives royalties based on the volume of shipments and the
selling prices of iron ore products shipped by Northshore, the lessee/operator
of the Mesabi Trust lands. The Trustees of the Mesabi Trust have not received
any information regarding the estimated volume of shipments from Northshore in
2009 and, therefore, cannot predict what impact the recently announced
curtailment will have on the Trusts royalties.
Safe Harbor Statement under
the Private Securities Litigation Reform Act of 1995
This Current Report on Form 8-K
contains certain forward-looking statements with
respect to iron ore
pellet production, iron ore pricing, shipments by Northshore in 2009, royalty
amounts, 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 and shipments
of iron ore pellets, as well as actual royalty levels (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, environmental compliance uncertainties, higher imports
of steel and iron ore substitutes, processing difficulties, consolidation and
restructuring in the domestic steel market, indexing features in Cliffs customer
agreements resulting in adjustments to royalties payable to the 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
Cliffs customer agreements to which the 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 are subject to
risks and uncertainties, which could cause actual results to differ materially.
2
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, 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:
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/s/
Kenneth R. Ring
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Kenneth R. Ring
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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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Dated:
March 5, 2009
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