CLEVELAND-CLIFFS INC. — Director's Dealing 2010

Jan 5, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2010-01-04

Reporting Person: RIEDERER RICHARD K (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-01-04	Stock Units	$	A	108.4834	Acquired		Common Shares (108.4834)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2289.1145	Direct

Footnotes

F1: On November 9, 2009, Cliffs Natural Resources Inc. (the "Company") declared a dividend of $.0875 per share, payable to all holders of record as of November 20, 2009 of common stock payable on December 1, 2009. The amount shown reflects 4.4471 shares acquired pursuant to a Dividend Reinvestment and Stock Purchase Plan for the Company's Common Stock.

F2: Convertible into Common Shares on a 1-for-1 basis.

F3: Reflects number of Common Shares of underlying deferred compensation credited to the account of the Reporting Person pursuant to the Cliffs Natural Resources Inc. Nonemployee Directors' Compensation Plan ("Plan"). Each Stock Unit is generally distributable following termination of service as a Director.

F4: The total includes dividend reinvestment pursuant to the Plan. The number of deferred dividend reinvestment equivalent shares earned in the Plan is calculated using the closing market price at the end of each quarter for shares held in the Plan. The reporting person was credited with 25.432 dividend reinvestment shares on 12/31/2009.