CLEVELAND-CLIFFS INC. — Director's Dealing 2011

Sep 1, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2011-08-30

Reporting Person: GALLAGHER DONALD J (EVP, Pres. Global Commercial)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-08-30	Common Stock	S	400	$82.105	Disposed	48275.048	Direct
2011-08-30	Common Stock	S	100	$82.11	Disposed	48175.048	Direct
2011-08-30	Common Stock	S	100	$82.12	Disposed	48075.048	Direct
2011-08-30	Common Stock	S	100	$82.13	Disposed	47975.048	Direct
2011-08-30	Common Stock	S	400	$82.14	Disposed	47575.048	Direct
2011-08-30	Common Stock	S	500	$82.16	Disposed	47075.048	Direct
2011-08-30	Common Stock	S	300	$82.17	Disposed	46775.048	Direct
2011-08-30	Common Stock	S	3000	$82.18	Disposed	43775.048	Direct
2011-08-30	Common Stock	S	600	$82.19	Disposed	43175.048	Direct
2011-08-30	Common Stock	S	600	$82.20	Disposed	42575.048	Direct
2011-08-30	Common Stock	S	600	$82.21	Disposed	41975.048	Direct
2011-08-30	Common Stock	S	3200	$82.22	Disposed	38775.048	Direct
2011-08-30	Common Stock	S	100	$82.215	Disposed	38675.048	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	99096	Indirect

Footnotes

F1: Balance shown reflects 134 shares acquired March 1, 2011 and 144 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.