CLEVELAND-CLIFFS INC. — Director's Dealing 2011

Sep 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2011-09-16

Reporting Person: Carrabba Joseph A (Director, Chairman, Pres. & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-09-16	Common Stock	S	5000	$78.3596	Disposed	184869	Direct
2011-09-19	Common Stock	S	5000	$74.549	Disposed	179869	Direct

Footnotes

F1: The sales were effected pursuant to Rule 10b5-1 trading plan adopted by the Reporting Person on August 1, 2011.

F2: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $77.69 to 80.07, 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 within the range.

F3: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.12 to 75.00, 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 within the range.