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Balance Sheet Cash Flow Statement W-1290 First National Bank Bldg., 332 Minnesota St. St. Paul, MN 55101-1361 MN Tel. 651-224-2385 Fax 651-224-2387 |
Type: Public
On the web:
http://www.gniop.com
Employees:
10
Employee growth: 0.0%
Great Northern Iron Ore Properties is the landlord of one big iron formation. The trust gets income from royalties on iron ore minerals (principally taconite) taken from its more than 12,000 acres on the Mesabi Iron Formation in Minnesota. 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 the heirs of railroad founder James Hill; however, the last survivor, his grandson Louis Hill, died in 1995. In 2015 (20 years after Louis Hill's death) the land will be transferred to a unit of Burlington Resources, which is a spin-off of Burlington Northern.
Key numbers for fiscal year ending December, 2008:
Sales: $20.8M
One year growth: 20.8%
Net income: $17.6M
Income growth: 22.0%
Officers:
President of the Trustees and CEO: Joseph S. Micallef
VP, CFO, and Secretary: Industrial Metals & Minerals
Competitors:
ArcelorMittal South Africa
Mesabi Trust
Vale




