The beneficiation of low-grade iron ores to meet the growing demand for iron and steel is an important research topic. However, certain ores do not qualify to be treated in physical separation processes, and hence, alternative strategies are being looked into for upgrading their iron content. The objective of this review article is to compile and amalgamate the crucial information regarding the beneficiation of low-grade iron ores using carbothermic reduction followed by magnetic separation, which is a promising technique to treat iron ores with complex mineralogy and liberation issues. Reduction roasting studies done for different types low-grade iron ores including oolitic iron ores, banded iron ores, iron ore slimes and tailings, and industrial wastes have been discussed. The large scale technological advancements in reduction roasting and the possibilities of the application of alternative reductants as substitutes for coal have also been highlighted. (C) 2020 Elsevier B.V. All rights reserved.