Mesabi Trust has reported its quarterly royalty results for the period ending June 30, 2025. The Trust received total royalty payments of $5,300,287 from Cleveland-Cliffs Inc., the parent company of Northshore Mining Company. This payment includes a base royalty of $2,514,060 and a bonus royalty of $2,588,784. Additionally, a separate payment of $197,443 was made to the Mesabi Land Trust. The royalties were based on 924,442 tons of iron ore shipped during the quarter, compared to 949,718 tons in the same period the previous year. The Trust's royalty income is influenced by various factors including the volume and pricing of iron ore products, as well as the proportion of production from Mesabi Trust lands. It is noted that the royalty payment did not include any adjustments for previous quarters. The report highlighted that there were no new third-party sales transactions since December 2024, when two low-volume shipments were made. Mesabi Trust cautions that variations in royalty payments can occur due to operational decisions, economic conditions, and other factors, and thus, past payments do not predict future royalties or distributions.