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CLEVELAND-CLIFFS INC. Director's Dealing 2011

Dec 16, 2011

30881_dirs_2011-12-16_16f2a6ae-9e49-4e82-806b-9fe284e0ce08.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: 2011-12-15

Reporting Person: BRLAS LAURIE (Executive VP and CFO)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-12-15 Common Stock S 500 $63.3942 Disposed 43035 Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 15720 Indirect

Footnotes

F1: The sale reported was affected pursuant to Rule 10b5-1 trading plan adopted by the Reporting Person on September 6, 2011.

F2: The price reported in column four is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.39 to $63.40, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the Staff of the Securities and Exchange Commission, upon request, with full information regarding the number of shares sold at each separate price with this range.

F3: Held for the benefit of the Reporting Person by the Cliffs Natural Resources Inc. 2005 Voluntary Non-Qualified Deferred Compensation Plan ("VNQDC").