so when someone is looking at the new shares that they issue this is what they are saying is the policy / procedures / rules company follows ??? they believe this then they know nothing about them ??? this comes from the underwriting from those 10 million shares that just came into cliffs life ... this almost reads like a new medicine going to market but wait there is this that and everything under the sun can happen to you if you take but do not worry ??????????????????????????????????????????????????????????? wait we have not finished there more to come at a cheaper rate so do not lose sleep it maybe hazzard to your health ???


This prospectus supplement and the accompanying prospectus, including the documents incorporated by

reference, contain statements that constitute “forward-looking statements” within the meaning of the Private

Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by the use of

predictive, future-tense or forward-looking terminology, such as “believes,” “anticipates,” “expects,”

“estimates,” “intends,” “may,” “will” or similar terms. These statements speak only as of the date of this

prospectus supplement or the date of the document incorporated by reference, as applicable, and we undertake

no ongoing obligation, other than that imposed by law, to update these statements. These statements appear in a

number of places in this prospectus supplement, including the documents incorporated by reference, and relate

to, among other things, our intent, belief or current expectations of our directors or our officers with respect to:

our future financial condition; results of operations or prospects; estimates of our economic iron ore and coal

reserves; our business and growth strategies; and our financing plans and forecasts. You are cautioned that any

such forward-looking statements are not guarantees of future performance and involve significant risks and

uncertainties, and that actual results may differ materially from those contained in or implied by the forwardlooking

statements as a result of various factors, some of which are unknown, including, without limitation:

• uncertainty or weaknesses in global economic conditions, including downward pressure on prices,

reduced market demand and any slowing of the economic growth rate in China;

• trends affecting our financial condition, results of operations or future prospects, particularly the

continued volatility of iron ore and coal prices;

• our ability to successfully integrate acquired companies into our operations and achieve post-acquisition

synergies, including without limitation, Cliffs Quebec Iron Mining Limited (formerly Consolidated

Thompson Iron Mining Limited, or Consolidated Thompson);

our ability to successfully identify and consummate any strategic investments and complete planned


• the outcome of any contractual disputes with our customers, joint venture partners or significant energy,

material or service providers or any other litigation or arbitration;

• the ability of our customers and joint venture partners to meet their obligations to us on a timely basis or

at all;

• our ability to reach agreement with our iron ore customers regarding modifications to sales contract

pricing escalation provisions to reflect a shorter-term or spot-based pricing mechanism;

• the impact of price-adjustment factors on our sales contracts;

• changes in sales volume or mix;

• our actual economic iron ore and coal reserves or reductions in current mineral estimates, including

whether any mineralized material qualifies as a reserve;

• the impact of our customers using other methods to produce steel or reducing their steel production;

• events or circumstances that could impair or adversely impact the viability of a mine and the carrying

value of associated assets;

the results of prefeasibility and feasibility studies in relation to projects;

• impacts of existing and increasing governmental regulation and related costs and liabilities, including

failure to receive or maintain required operating and environmental permits, approvals, modifications or

other authorization of, or from, any governmental or regulatory entity and costs related to implementing

improvements to ensure compliance with regulatory changes;

• our ability to cost effectively achieve planned production rates or levels;

• uncertainties associated with natural disasters, weather conditions, unanticipated geological conditions,

supply or price of energy, equipment failures and other unexpected events;