CLEVELAND-CLIFFS INC. — Director's Dealing 2011

Jan 19, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CLIFFS NATURAL RESOURCES INC. (CLF)
CIK: 0000764065
Period of Report: 2011-01-11

Reporting Person: Smith Clifford T (SVP, Global Business Dev.)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8561	Direct
Common Stock	11740	Indirect

Footnotes

F1: Balance shown reflects 5,531 common shares held by the reporting owner and 540, 1,530, and 960 restricted share units granted to the reporting person for the 2008-2010, 2009-2011 and 2010-2012 performance periods, respectively, pursuant to the Cliffs Natural Resources Inc. (the "Company") 2007 Incentive Equity Plan.

F2: Held for the benefit of the Reporting Person by the Company's 2005 Voluntary Non-Qualified Deferred Compensation Plan (VNQDC).