We produced magnetite nanoparticles (MNPs) and a Mg-rich solution as a nano-adsorbent and a coagulant for water treatment, respectively, using a low-grade iron ore. The ore was leached with aqueous hydrochloric acid and its impurities were removed by solvent extraction of the leachate using tri-n-butyl phosphate as an extractant. The content of Si and Mg, which inhibit the formation of MNPs, was reduced from 10.3 wt% and 15.5 wt% to 28.1 mg/L and < 1.4 mg/L, respectively. Consequently, the Fe content increased from 68.6 wt% to 99.8 wt%. The high-purity Fe3+ solution recovered was used to prepare 5-15-nm MNPs by coprecipitation. The wastewater produced contained a large amount of Mg2+ and can be used to precipitate struvite in sewage treatment. This process helps reduce the cost of both sewage and iron-orewastewater treatments, as well as in the economic production of the nano-adsorbent.