CLEVELAND (Business Wire) -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today
announced the pricing of its recently announced common share offering.
The Company said that it has agreed to sell 15 million common shares at
$21.00 per share. In connection with the offering, the underwriters have
been granted an over-allotment option to purchase an additional 2.25
million common shares.




Cliffs intends to use the net proceeds from the offering 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.




The offering is expected to close on May 19, 2009, subject to customary
closing conditions.




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, when available, 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 Amapa Project, an iron ore project in the
state of Amapa 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