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Home > Company Index > Metals & Mining > Industrial Minerals & Metals > Great Northern Iron Ore Properties

Great Northern Iron Ore Properties
NYSE: GNI
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 PROFILE
Northern Iron Ore is an iron landlord. The company is a trust that derives income through royalties on iron ore minerals (principally taconite) taken from its more than 12,000 acres on the Mesabi Iron Formation in Minnesota. Companies such as USX-U.S. Steel and Hibbing Taconite pay Great Northern to mine taconite (rock that's about 30% iron) on Mesabi. The trust was formed in 1906 to own the properties of an affiliate of Burlington Northern Santa Fe (formerly Great Northern Railway). The trust's beneficiaries were 18 family members of the railroad's founder, James Hill, whose grandson Louis Hill, the last survivor, died in 1995. In 2015 (20 years from Hill's death) the land will transfer to Burlington Resources.

 COMPETITION
Companhia Vale do Rio Doce (RIO)
Iscor Limited (ISCRY)
Mesabi Trust (MSB)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 12.40
1-Yr. Sales Growth: 13.8%
Employees: 10
Revenue per employee: $1,240,000.00

 KEY PEOPLE
• Joseph S. Micallef
    CEO
• Thomas A. Janochoski
    CFO

 CONTACT INFO
W-1290 First National Bank Bldg., 332 Minnesota St.
St. Paul, MN 55101
US
Phone: 651-224-2385
Fax: 651-224-2387

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