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CLEVELAND-CLIFFS INC. Director's Dealing 2011

May 19, 2011

30881_dirs_2011-05-19_f7633791-4c67-402d-beee-9aba2fc61815.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2011-05-17

Reporting Person: SCHWARTZ ALAN G (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-05-17 Common Stock A 10.202 $98.02 Acquired 18287.9967 Direct
2011-05-17 Common Stock A 925 $0.00 Acquired 19212.9967 Direct

Footnotes

F1: Reflects number of Common Shares credited to the account of the Reporting Person in payment of the Reporting Person's required quarterly retainer for the second quarter under the Cliffs Natural Resources Inc. Nonemployee Directors' Compensation Plan (which was retroactively increased on May 17, 2011).

F2: Reflects the number of Common Shares granted to the Reporting Person >69 years of age as the Annual Equity Grant on May 17, 2011, the date of the Annual Meeting of Shareholders pursuant to the Cliffs Natural Resources Inc. Non-Employee Directors' Compensation Plan.