The short answer is yes.
Iron ore is the generic name given to compounds of iron found naturally in the ground. The most common one is haematite, which is one to two oxides of iron that are possible - in this case, ferric oxide.
Mixtures of metals are separated by various methods, but getting one of the mixed elements to combine with another substance that floats or sinks in the second element is a common technique.
With iron, the main impurity in haematite is silicon. By heating the iron with a commonly available limestone, calcium silicate is formed which floats on the surface as slag. This slag can be skimmed off.
If the price of a base metal rises, a point is reached at which it is worth revisting old spoil heaps to remove more of the material not previously worth transporting for processing - because, say, the percentage of metal in the ore was originally not high enough to make it worthwhile.