In order to provide a technical basis for the subsequent concentration and utilization of the tailings treatment process in an iron ore mine, and to achieve the objectives of cost reduction and sustainable development, the settling concentration and settling capacity of a tailings slurry with an initial concentration of 40% in its natural state were tested in conjunction with the pumping supply concentration index of the beneficiation tailings slurry in a metal mine. The test results show that the iron ore tailings particles settle at an overall fast rate: basically, within 10 to 20 min they are able to reach or approach 85 to 99.5% of the final settling state-related index. During the settling process in the fixed container, at first, the clarified water at the top of the tailings slurry is very turbid. With the passage of time, the clarified water gradually becomes blurred and clear from turbidity, and the interface between the slurry and the water gradually becomes clearer. From the phenomena observed during the settling process and the test parameters such as the net increase in clear water and slurry variation, the maximum settling concentration and settling capacity indicators of 50% and 90% can be reached or approached in 5.5 to 7.25 and 10.5 to 15.5 min after settling, and the maximum settling concentration and settling capacity can be reached or approached in 10 to 20 min after the settling process. As the settling tests and observations continued, the relevant settling parameters basically reached the final settling state within the time period of 20 to 1440 min, during which the settling concentration of the tailing sand was 71.33 to 73.42% and the settling capacity was 1.85 to 1.91 g/cm3. It can be judged from the test results that the natural settling of the low concentration tailings slurry can meet the technical specifications required for the filling process, and that the natural settling and concentration of dewatering can save the costs of the relevant facilities and flocculation chemicals, and therefore has good technical and economic feasibility.