To date there are limitations on commercial practices that aims directly at extracting Iron from chalcopyrite. This is because for years chalcopyrite has mostly been mined for copper and Iron discarded with slag. A technique called beneficiation that involves hydrometallurgical and pyro-metallurgical processes is applied on chalcopyrite to recover both Iron, copper and even Sulphur. During the process of beneficiation copper is separated from iron and tapped off as copper matte while iron exit the furnace in the form of Fayalite (Iron [II] silicate). Some new approaches have focused specifically at reducing Iron (II) silicate to element Iron for economic utilization. Such operations are done at temperatures of 1000+ OC. The recovered iron can be used as an alternative feed material to replace scrap steel in the steelmaking processes. This continued invention that aims at utilization of iron from chalcopyrite will be of economic value and at the same time addressing environmental associated with steelmaking using scrap. A Detailed review of techniques for processing chalcopyrite and methods for iron recovery from chalcopyrite were discussed. Methods that are found suitable in Iron recovery from chalcopyrite are the Direct reduction and Magnetic separation. A combination of the two methods is effective.