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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000912057-02-017408.txt : 20020430
<SEC-HEADER>0000912057-02-017408.hdr.sgml : 20020430
ACCESSION NUMBER:		0000912057-02-017408
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20020430
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20020430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MESABI TRUST
		CENTRAL INDEX KEY:			0000065172
		STANDARD INDUSTRIAL CLASSIFICATION:	MINERAL ROYALTY TRADERS [6795]
		IRS NUMBER:				136022277
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04488
		FILM NUMBER:		02626993

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 318 CHURCH ST STATION
		STREET 2:		C/O BANKERS TRUST CO CORP TRUST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10008-0318
		BUSINESS PHONE:		2122506519

	MAIL ADDRESS:	
		STREET 1:		C/O BANKERS TRUST COMPANY, CORPORATE
		STREET 2:		P.O. BOX 318 CHURCH STREET STATION
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10008-0318
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a2078486z8-k.txt
<DESCRIPTION>8-K
<TEXT>
<Page>

                                  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): APRIL 30, 2002


                                  MESABI TRUST
             (Exact name of registrant as specified in its charter)


          NEW YORK                  1-4488                13-6022277
          --------                  ------                ----------
(State or other jurisdiction      (Commission          (I.R.S. Employer
      of incorporation)          File Number)         Identification No.)


                    C/O DEUTSCHE BANK TRUST COMPANY AMERICAS
                     CORPORATE TRUST & AGENCY SERVICES - GDS
                                  P.O. BOX 318
                              CHURCH STREET STATION
                             NEW YORK, NY 10008-0318
                    (Address of principal executive offices)

                                 (615) 835-2749
              (Registrant's telephone number, including area code)


<Page>


ITEM 5.  OTHER EVENTS.

Mesabi Trust reports that its press release dated April 30, 2002, a copy of
which is filed herewith as Exhibit 99.1, was made publicly available on April
30, 2002. The press release stated that the fiscal year 2002 iron ore pellet
production forecast of 3.0 million tons for the Northshore Mining Corporation,
the lessee/operator of the Mesabi Trust lands, was recently revised and
increased by the parent corporation of Northshore, Cleveland-Cliffs Inc. (CCI).
In its April 24, 2002 press release, CCI announced that fiscal year 2002 iron
ore pellet production will be between 3.5 and 4.0 million tons. CCI's
announcement on April 24, 2002 revised CCI's previously disclosed forecasts as
well as those forecasts reiterated in Mesabi Trust's Form 10-K, which was filed
with the Securities and Exchange Commission on April 24, 2002.

CCI did not announce, and the Trustees are not able to forecast, the volume of
shipments of iron ore pellets from Northshore for fiscal year 2002. The volume
of iron ore pellet shipments in each calendar quarter determines the amount of
base overriding royalties due to Mesabi Trust. For a more complete discussion,
see the press release.


ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

         (a)  FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED.

                  Not applicable.

         (b)  PRO FORMA FINANCIAL INFORMATION.

                  Not applicable.

         (c)  EXHIBITS.

                  Ex. 99.1 Press Release dated April 30, 2002
                  (filed electronically herewith).


<Page>


                                   SIGNATURES

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.

                                                 MESABI TRUST
                                ------------------------------------------------
                                                 (REGISTRANT)

                                By: DEUTSCHE BANK TRUST COMPANY AMERICAS
                                    Corporate Trustee
                                    Principal Administrative Officer and
                                    duly authorized signatory:*


*Dated:  April 30, 2002         By: /s/ Rodney Gaughan
                                  ----------------------------------------------
                                     Name:     Rodney Gaughan
                                     Title:    Associate

*There are no directors
or executive officers
of the Registrant


<Page>


                                INDEX TO EXHIBITS


Item No.   Description                                  Method of Filing
- --------   -----------                                  ----------------

99.1       Press Release dated April 30, 2002.......... Filed electronically
                                                        herewith

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a2078486zex-99_1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<Page>


                                                                    EXHIBIT 99.1


                                  MESABI TRUST
                                  PRESS RELEASE


NEW YORK, NEW YORK

APRIL 30, 2002


On April 24, 2002, Cleveland-Cliffs, Inc. (CCI), the parent corporation of
Northshore Mining Corporation, announced that fiscal year 2002 iron ore pellet
production for the Northshore Mining Corporation, the lessee/operator of the
Mesabi Trust lands, is expected to be between 3.5 and 4.0 million tons. This
estimate of iron ore pellet production for the Northshore facility revises and
increases the previously forecast production of 3.0 million tons of iron ore
pellets as announced by CCI and reported by the Mesabi Trust.

As stated in the Trust's April 24, 2002 Form 10-K, CCI entered into a
fifteen-year supply contract with International Steel Group Inc. (ISG) to act as
its exclusive supplier of iron ore pellets. In its April 24, 2002 press release,
CCI cited its supply contract with ISG as the reason for the increase in the
aggregate production forecasts for the mines it operates. Nevertheless, neither
Northshore nor CCI has advised Mesabi Trust as to its expected 2002 shipments or
what percentage of 2002 shipments will be from the Mesabi Trust's lands. The
volume of shipments in each calendar quarter determines the amount of base
overriding royalties due to Mesabi Trust.

This news release contains certain forward-looking statements with respect to
iron ore production at Northshore in 2002, which statements are intended to be
made under the safe harbor protections of the Private Securities Litigation
Reform Act of 1995. Actual production and shipments of iron ore pellets could
differ materially from current expectations due to inherent risks such as to
ISG's demand for iron ore pellets under its contract with CCI, lower demand for
steel and/or iron ore generally, general economic conditions, higher steel
imports, processing difficulties or other factors. Although the Mesabi Trustees
believe that its forward-looking statements are based on reasonable assumptions,
such statements are subject to risks and uncertainties, which could cause actual
results to differ materially.


Contact:  Mesabi Trust SHR Unit
          Deutsche Bank Trust Company Americas
          615-835-2749

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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