what are the modern processes for extracting iron metal from its ores?
Same as the old method. reduction smelting. Iron is found oxidized, so you need to steal those oxygens. You do this by adding coke (purified carbon from coal) to iron and heating. The carbon grabs the oxygen, becomes CO and CO2, the iron reduces to pure iron. And you add some crushed limestone to react with other impurities and form slag which floats on the liquid iron.