CLEVELAND-CLIFFS INC. — Director's Dealing 2011

Dec 8, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2011-12-06

Reporting Person: Smith Clifford T (SVP, Global Business Dev.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-06	Common Stock	S	500	$72.33	Disposed	8841	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	12627	Indirect

Footnotes

F1: Balance shown reflects 18 shares acquired March 1, 2011 and 18 shares acquired June 1, 2011 pursuant to the dividend reinvestment feature of the Issuer's 2005 Voluntary Non-Qualified Deferred Compensation Plan ("VNQDC").

F2: Held for the benefit of the Reporting Person by the VNQDC.