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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	September 30, 2006
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  	Cleveland-Cliffs Inc
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Ohio
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  	1-8944
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  	34-1464672
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  _____________________<BR>
  	(State or other jurisdiction
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	1100 Superior Avenue, Cleveland, Ohio
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  	44114-2589
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  _________________________________<BR>
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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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  	216-694-5700
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 8.01 Other Events.
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  Cleveland-Cliffs Inc has issued the following news release dated September 30, 2006 as follows:<br><br>Cleveland-Cliffs Announces Convertibility of Preferred Stock<br><br>Cleveland, OH&#x2014;September 30, 2006&#x2014;Cleveland-Cliffs Inc (NYSE: CLF) today announced that, due to the satisfaction of a condition to the conversion right of the holders of its 3.25% redeemable cumulative convertible perpetual preferred stock, the preferred stock may be surrendered for conversion at any time during the fiscal quarter ending December 31, 2006.  <br><br>The condition was satisfied because the closing share price of Cleveland-Cliffs' common shares for at least 20 trading days of the last 30 trading days of the fiscal quarter ended September 30, 2006, exceeded 110% of the then applicable conversion price of the preferred stock. The satisfaction of this condition allows conversion of the preferred stock during the fiscal quarter ending December 31, 2006, only. Conversion may continue after such quarter if certain conditions set forth in Cleveland-Cliffs' amended articles of incorporation are satisfied.  <br><br>The preferred stock was also convertible during each of the past seven fiscal quarters due to the satisfaction of this condition during the applicable periods.<br><br>Conditions were satisfied for the fiscal quarter ended:	<br>	<br>December 31, 2004		<br>March 31, 2005		<br>June 30, 2005		<br>September 30, 2005		<br>December 31, 2005		<br>March 31, 2006		<br>June 30, 2006	<br>	<br>The preferred stock was convertible during the period ended:<br>		<br>March 31, 2005<br>June 30, 2005<br>September 30, 2005<br>December 31, 2005<br>March 31, 2006<br>June 30, 2006<br>September 30, 2006<br>		<br>The conversion rate is currently 65.5068 common shares per share of preferred stock. This equates to a conversion price of approximately $15.27 per common share, subject to adjustment in certain circumstances including payment of dividends on the common shares.<br><br>To be added to Cleveland-Cliffs&#x2019; e-mail distribution list, please click on the link below:<br>http://www.cpg-llc.com/clearsite/clf/emailoptin.html<br><br>Cleveland-Cliffs Inc, headquartered in Cleveland, Ohio, is the largest producer of iron ore pellets in North America and sells the majority of its pellets to integrated steel companies in the United States and Canada. Cleveland-Cliffs Inc operates a total of six iron ore mines located in Michigan, Minnesota and Eastern Canada. The Company is majority owner of Portman Limited, the third-largest iron ore mining company in Australia, serving the Asian iron ore markets with direct-shipping fines and lump ore. <br><br>News releases and other information on the Company are available on the Internet at:<br>http://www.cleveland-cliffs.com.<br><br>SOURCE: Cleveland-Cliffs Inc<br><br>CONTACT: Media: 1-216-694-4870<br><br>Financial Community: 1-800-214-0739, or 1-216-694-5459<br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Cleveland-Cliffs Inc
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  <I>
  	October 2, 2006
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  <I>
  	George W. Hawk, Jr.
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  	Name: George W. Hawk, Jr.
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  	Title: General Counsel and Secretary
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_15260.htm", "description": "LIVE FILING", "secsgml_size_bytes": 11112}]
metadata_filer: {"company-data": {"conformed-name": "CLEVELAND CLIFFS INC", "cik": "0000764065", "assigned-sic": "1000", "irs-number": "341464672", "state-of-incorporation": "OH", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-08944", "film-number": "061119697"}, "business-address": {"street1": "1100 SUPERIOR AVE 18TH FLR", "city": "CLEVELAND", "state": "OH", "zip": "44114", "phone": "2166945700"}, "mail-address": {"street1": "100 SUPERIOR AVE", "street2": "18TH FLOOR", "city": "CLEVELAND", "state": "OH", "zip": "44114"}}
text: Cleveland-Cliffs Inc (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  September 30, 2006
  Cleveland-Cliffs Inc
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Ohio
  1-8944
  34-1464672
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  1100 Superior Avenue, Cleveland, Ohio
  44114-2589
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  216-694-5700
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 8.01 Other Events.
  Cleveland-Cliffs Inc has issued the following news release dated September 30, 2006 as follows:
  Cleveland-Cliffs Announces Convertibility of Preferred Stock
  Cleveland, OH—September 30, 2006—Cleveland-Cliffs Inc (NYSE: CLF) today announced that, due to the satisfaction of a condition to the conversion right of the holders of its 3.25% redeemable cumulative convertible perpetual preferred stock, the preferred stock may be surrendered for conversion at any time during the fiscal quarter ending December 31, 2006.
  The condition was satisfied because the closing share price of Cleveland-Cliffs' common shares for at least 20 trading days of the last 30 trading days of the fiscal quarter ended September 30, 2006, exceeded 110% of the then applicable conversion price of the preferred stock. The satisfaction of this condition allows conversion of the preferred stock during the fiscal quarter ending December 31, 2006, only. Conversion may continue after such quarter if certain conditions set forth in Cleveland-Cliffs' amended articles of incorporation are satisfied.
  The preferred stock was also convertible during each of the past seven fiscal quarters due to the satisfaction of this condition during the applicable periods.
  Conditions were satisfied for the fiscal quarter ended:
  December 31, 2004
  March 31, 2005
  June 30, 2005
  September 30, 2005
  December 31, 2005
  March 31, 2006
  June 30, 2006
  The preferred stock was convertible during the period ended:
  March 31, 2005
  June 30, 2005
  September 30, 2005
  December 31, 2005
  March 31, 2006
  June 30, 2006
  September 30, 2006
  The conversion rate is currently 65.5068 common shares per share of preferred stock. This equates to a conversion price of approximately $15.27 per common share, subject to adjustment in certain circumstances including payment of dividends on the common shares.
  To be added to Cleveland-Cliffs' e-mail distribution list, please click on the link below:
  http://www.cpg-llc.com/clearsite/clf/emailoptin.html
  Cleveland-Cliffs Inc, headquartered in Cleveland, Ohio, is the largest producer of iron ore pellets in North America and sells the majority of its pellets to integrated steel companies in the United States and Canada. Cleveland-Cliffs Inc operates a total of six iron ore mines located in Michigan, Minnesota and Eastern Canada. The Company is majority owner of Portman Limited, the third-largest iron ore mining company in Australia, serving the Asian iron ore markets with direct-shipping fines and lump ore.
  News releases and other information on the Company are available on the Internet at:
  http://www.cleveland-cliffs.com.
  SOURCE: Cleveland-Cliffs Inc
  CONTACT: Media: 1-216-694-4870
  Financial Community: 1-800-214-0739, or 1-216-694-5459
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Cleveland-Cliffs Inc
  October 2, 2006
  By:
  George W. Hawk, Jr.
  Name: George W. Hawk, Jr.
  Title: General Counsel and Secretary