CLEVELAND-CLIFFS INC. - Director's Dealing 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2011-03-02

Reporting Person: CALFEE WILLIAM R (Exec. V.P. Commercial Projects)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-02	Common Stock	S	4673	$96.306	Disposed	37753	Direct
2011-03-02	Common Stock	S	100	$96.33	Disposed	37653	Direct
2011-03-02	Common Stock	S	184	$96.34	Disposed	37469	Direct
2011-03-02	Common Stock	S	2100	$96.35	Disposed	35369	Direct
2011-03-02	Common Stock	S	600	$96.36	Disposed	34769	Direct
2011-03-02	Common Stock	S	84	$96.37	Disposed	34685	Direct
2011-03-02	Common Stock	S	800	$86.38	Disposed	33885	Direct
2011-03-02	Common Stock	S	16	$96.39	Disposed	33869	Direct
2011-03-02	Common Stock	S	516	$96.40	Disposed	33353	Direct
2011-03-02	Common Stock	S	600	$96.42	Disposed	32753	Direct

Security	Shares	Ownership
Common Stock	40040	Indirect

F1: Held for the benefit of the Reporting Person by the Issuer's 2005 Voluntary Non-Qualified Deferred Compensation Plan (VNQDC).