CLEVELAND-CLIFFS INC. — Director's Dealing 2011

Jan 19, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2011-01-18

Reporting Person: CALFEE WILLIAM R (Exec. V.P. Comm. N.Amer. Iron)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-18	Common Stock	G	235	$0.00	Disposed	35453	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	40040	Indirect

Footnotes

F1: Disposition of shares as gift requires no dollar amount.

F2: Balance shown reflects 17 shares acquired December 1, 2010 pursuant to the dividend reinvestment feature of the Cliffs Natural Resources Inc. 2005 Voluntary Non-Qualified Deferred Compensation Plan ("VNQDC") to shareholders of record as of November 19, 2010.