CLEVELAND-CLIFFS INC. — Director's Dealing 2010

May 13, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2010-05-11

Reporting Person: RIEDERER RICHARD K (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-05-11	Stock Units	$	A	1321	Acquired		Common Shares (1321)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2292.6183	Direct

Footnotes

F1: Convertible into Common Shares on a 1-for-1 basis.

F2: The reporting person elected to defer the Annual Equity Grant acquired pursuant to the Cliffs Natural Resources Inc. Nonemployee Directors' Compensation Plan (as Amended and Restated December 31, 2008). The aggregate number of Common Shares of underlying deferred compensation credited to the account of the Reporting Person pursuant to the Plan. Each Stock Unit is generally distributable following termination of service as a Director.