CLEVELAND-CLIFFS INC. — Director's Dealing 2010

Oct 13, 2010

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2010-10-07

Reporting Person: Raguz Steven M (VP, Corp. Strategy & Treasurer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6115	Direct
Common Stock	200	Indirect
Common Stock	4007	Indirect

Footnotes

F1: The Reporting Person acquired 750, 2,175, and 1,190 restricted share units for grants received on March 10, 2008, March 9, 2009 and March 8, 2010, respectively, pursuant to the Amended and Restated Cliffs 2007 Incentive Equity Plan. The remaining 2,000 shares are held in an IRA for the benefit of the Reporting Person.

F2: Held for the benefit of the Reporting Person by the Cliffs Natural Resources Inc. 2005 Voluntary Non-Qualified Deferred Compensation Plan (VNQDC).