The mining industry has seen a significant decline in mill feed grade in recent years, resulting in an ongoing build-up of materials not recovered at the mineral processing plants whose economic value has not yet been determined. Tailings dams have been the preferred method of disposal of such materials. However, recent dam breach events and the growing demand for mineral goods have enhanced the appeal of a more effective use of mined materials to prevent tailings accumulation and reduce social and environmental impacts, in line with the environmental, social and governance (ESG) principles that most companies have adopted. Different techniques can be used to recover economically valuable minerals contained in such materials, among which magnetic separation stands out for reasons of cost, production capacity, and recent developments of new equipment and matrices for wet high-intensity magnetic separators. The outcome includes gains in capacity, grade, and recovery yield. This paper assessed the use of a matrix developed by the company Gaustec, called BigFlux, in the magnetic separation of depressed product from the flotation process at Nexa Resources's Vazante mine. Laboratory-scale magnetic separation tests were conducted using standard and an optimized matrix. For a 59% iron concentrate, the metallurgical recovery using such optimized matrix reached 72.6%, up 4% from the figure resulting from the use of the standard matrix, thus indicating that the use of the optimized matrix can improve the magnetite recovery process of the studied material.