Abstract: This study used specularite, a high-gradient magnetic separation concentrate, as a raw material in reverse flotation. An iron concentrate with a grade of 65.1wt% and a recovery rate of 75.31% were obtained. A centrifugal concentrator served as the deep purification equipment for the preparation of iron oxide red pigments, and its optimal rotating drum speed, feed concentration, and other conditions were determined. Under optimal conditions, a high-purity iron oxide concentrate with a grade of 69.38wt% and a recovery rate of 80.89% were obtained and used as a raw material for preparing iron oxide red pigment. Calcining with sulfuric acid produced iron red pigments with different hues. Simultaneously, middlings with a grade of 60.20wt% and a recovery rate of 17.51% were obtained and could be used in blast furnace ironmaking. High-value utilization of specularite beneficiation products was thus achieved.