The iron ore deposits in India are rich in iron content but usually contains high alumina and silica. The current industrial practice results three products namely lump, fines and slimes. The lump and fines with or without beneficiation are directly fed to the blast furnace and sintering plant respectively while the super fines or slimes are presently discarded as tailings. Around eight million tonnes of iron ore slimes estimated as being 15 - 20 per cent by weight of run of mine ore containing ~48 - 62 per cent Fe, is discarded every year causing huge loss to the Indian iron ore industry. In addition, these slimes stored in massive tailing ponds pose enormous environmental and ecological problems. Extensive investigations have been carried out on three iron ore slimes generated at Barsua, Bolani and Meghahatuburu iron ore mines of India. The studies include physical, chemical, mineralogical characterisation and beneficiation studies adopting conventional hydroclyclone and wet high intensity magnetic separator. The characterisation studies have indicated that most of the gangue minerals are accumulated in finer fractions. The studies on hydrocyclone and magnetic separation had indicated that an iron concentrate of 61 - 65 per cent Fe could be obtained by recovering 59 - 78 per cent of the iron values present in the slimes. Depending on the nature of the slimes the alumina and silica levels have been brought down to 2.5 and 1.0 per cent respectively. The effects of different operating and design variables along with detailed characterisation studies have been highlighted.