Cliffs Natural Resources Inc. Receives Investment Canada Act Approval to Proceed With Consolidated Thompson Iron Mines Limited Acquisition

Cliffs Natural Resources Inc. CLF today announced that the Minister of Industry has approved Cliffs proposed acquisition of Consolidated Thompson Iron Mines Limited, under the Investment Canada Act, on the basis that the transaction is likely to be a net benefit to Canada. Cliffs indicated the Chinese Ministry of Commerce's approval is required to proceed with the closing of the acquisition. Subject to MOFCOM's approval and certain other closing conditions, Cliffs anticipates closing the acquisition early in the second quarter of 2011.