Mesabi Trust, a royalty trust, engages in iron ore mining business primarily in the United States. It produces iron ore pellets. The company has interest in properties aggregating approximately 9,750 contiguous acres in St. Louis County, Minnesota. It also holds interest in the Peter Mitchell mine, an open pit mine located in the Mesabi Iron Range near Babbitt, Minnesota. Mesabi Trust was founded in 1919 and is based in New York, New York.