CLEVELAND-CLIFFS INC. — Director's Dealing 2011

Jan 7, 2011

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2010-12-31

Reporting Person: GALLAGHER DONALD J (Pres. N. Am. Business Unit)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-09	Common Stock	G	200	$0.00	Disposed	44012.048	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	98818	Indirect

Footnotes

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

F2: Balance shown reflects 179 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.