ÐÇ¿Õ´«Ã½

FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
LEROUX ROBERT J
Ìý 2. Issuer Name and Ticker or Trading Symbol
CLEVELAND CLIFFS INC [CLF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President & Controller
(Last)
(First)
(Middle)
1100 SUPERIOR AVENUE
3. Date of Earliest Transaction (Month/Day/Year)
12/29/2006
(Street)

CLEVELAND,ÌýOHÌý44114
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/29/2006 Ìý S Ìý 2,037 D $ 48.65 8,814 D Ìý
Common Stock Ìý Ìý Ìý Ìý Ìý Ìý Ìý 8,243 I By VNQDC (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Retention Units 2004-2006 (2) Ìý Ìý Ìý Ìý Ìý Ìý Ìý (3) Ìý (3) Common Shares 1,200 Ìý 1,200 (4) D Ìý
Retention Units 2005-2007 (2) Ìý Ìý Ìý Ìý Ìý Ìý Ìý (5) Ìý (5) Common Shares 540 Ìý 540 (6) D Ìý
Retention Units 2006-2008 (2) Ìý Ìý Ìý Ìý Ìý Ìý Ìý (7) Ìý (7) Common Shares 420 Ìý 420 (8) D Ìý

Reporting Owners

Reporting Owner Name / Address Relationships
ÌýDirector Ìý10% Owner ÌýOfficer ÌýOther
LEROUX ROBERT J
1100 SUPERIOR AVENUE
CLEVELAND,ÌýOHÌý44114
Ìý Ìý Ìý Vice President & Controller Ìý

Signatures

ÌýRobert J. Leroux Ìý 01/03/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Held for the benefit of the Reporting Person by the ÐÇ¿Õ´«Ã½ Inc Voluntary Non-Qualified Deferred Compensation Plan (VNQDC).
(2) Convertible into Common Shares on a 1-for-1 basis.
(3) Represents a grant of Retention Units to the Reporting Person under the ÐÇ¿Õ´«Ã½ Inc Long-Term Incentive Program covering the period January 1, 2004 through December 31, 2006 (Incentive Period). Payment of the Retention Units will be made in cash after the completion of the Incentive Period based upon the employment by the Company of the Reporting Person and the market value of a Common Share of the Company on the last day of the Incentive Period.
(4) On December 31, 2004, the common stock of ÐÇ¿Õ´«Ã½ Inc ("Cliffs") split 2-for-1, resulting in the reporting person's acquisistion of 300 additional retention units. On June 30, 2006, the common stock of Cliffs split 2-for-1 again, resulting in the reporting person's acquisition of 600 additional retention units.
(5) Represents a grant of Retention Units to the Reporting Person under the ÐÇ¿Õ´«Ã½ Inc Long-Term Incentive Program covering the period January 1, 2005 through December 31, 2007 (Incentive Period). Payment of the Retention Units will be made in cash after the completion of the Incentive Period based upon the employment by the Company of the Reporting Person and the market value of a Common Share of the Company on the last day of the Incentive Period.
(6) On June 30, 2006, the common stock of ÐÇ¿Õ´«Ã½ Inc split 2-for-1, resulting in the reporting person's acquisition of 270 additional retention units.
(7) Represents a grant of Retention Units to the Reporting Person under the ÐÇ¿Õ´«Ã½ Inc Long-Term Incentive Program covering the period January 1, 2006 through December 31, 2008 (Incentive Period). Payment of the Retention Units will be made in cash after the completion of the Incentive Period based upon the employment by the Company of the Reporting Person and the market value of a Common Share of the Company on the last day of the Incentive Period.
(8) On June 30, 2006, the common stock of ÐÇ¿Õ´«Ã½ Inc split 2-for-1, resulting in the reporting person's acquisition of 210 additional retention units.

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