Cliffs Natural Resources Inc. Closes Common Share Offering

CLEVELAND--(Business Wire)--
Regulatory News:

Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced that it
has closed on its previously announced common share offering. The total number
of shares sold was 17,250,000, comprised of the 15 million share offering and
the exercise of the underwriters` option to purchase an additional 2.25 million
common shares. Net proceeds at a price of $21.00 per share are approximately
$347 million, which will be used for general corporate purposes, which may
include, among other things, funding certain capital expenditures, repayment of
indebtedness or strategic transactions.

J.P. Morgan Securities Inc. and Merrill Lynch & Co. acted as joint book-running
managers for the offering. Co-managers included KeyBanc Capital Markets Inc.,
PNC Capital Markets LLC, ABN AMRO Incorporated and Piper Jaffray.

A registration statement relating to these securities has been filed with and
declared effective by the U.S. Securities and Exchange Commission. The offering
may be made only by means of a prospectus supplement and the accompanying
prospectus. This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities.

A copy of the final prospectus supplement and accompanying prospectus related to
this offering may be obtained from J.P. Morgan Securities Inc., National
Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level,
Brooklyn, NY 11245, telephone: (718) 242-8002; or Merrill Lynch & Co., 4 World
Financial Center, New York, NY 10080, Attention: Prospectus Department.

About Cliffs Natural Resources Inc.

Cliffs Natural Resources is an international mining and natural resources
company. We are the largest producer of iron ore pellets in North America, a
major supplier of direct-shipping lump and fines iron ore out of Australia and a
significant producer of metallurgical coal. With core values of environmental
and capital stewardship, our colleagues across the globe endeavor to provide all
stakeholders operating and financial transparency as embodied in the Global
Reporting Initiative (GRI) framework. Our Company is organized through three
geographic business units:

The North American business unit is comprised of six iron ore mines owned or
managed in Michigan, Minnesota and Eastern Canada, and two coking coal mining
complexes located in West Virginia and Alabama. The Asia Pacific business unit
is comprised of two iron ore mining complexes in Western Australia and a 45%
economic interest in a coking and thermal coal mine in Queensland, Australia.
The Latin American business unit includes a 30% interest in the Amapá Project,
an iron ore project in the state of Amapá in Brazil, as well as a number of
smaller greenfield projects not yet in production.

Over recent years, Cliffs has been executing a strategy designed to achieve
scale in the mining industry and focused on serving the world`s largest and
fastest growing steel markets.

Cliffs Natural Resources Inc.
United States
Steve Baisden, + 1 (216) 694-5280
Director, Investor Relations and Corporate Communications
steve.baisden@cliffsnr.com
or
Christine Dresch, (216) 694-4052
Manager - Corporate Communications
christine.dresch@cliffsnr.com
or
France
NewCap
Financial Communication and Investor Relations
Simon Zaks / Pierre Laurent, + 33 (0)1 44 71 94 94
szaks@newcap.fr / plaurent@newcap.fr

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