The management of waste, especially ferrous waste, poses great problems in the steel industry due to strict regulations on preventing, reducing, or even eliminating the factors that generate a high degree of environmental pollution (landfills resulting from the steel industry and adjacent industries—mining, energy, etc.). The present paper presents a synthesis of the specialized literature regarding the processes used, both worldwide and nationally, regarding the transformation of raw materials (ores or concentrates) and iron-containing waste (steel mill dust, mill scale and scale, sludge from agglomeration factories, sideritic waste, etc.) into by-products that can be used in the steel industry. For technological reasons, the option of pelletizing powdered waste was applied—in laboratory conditions, according to its own recipes, with results that justify the application of the technology on an industrial scale (appearance after hardening; drop resistance). The aim of the paper was to identify a practical solution; based on this solution, original conceptual models of organizational strategies (management and processing, respectively, recovery of ferrous waste within steel companies) were developed, such as a concentration strategy, diversification, vertical integration, etc. Within graphical representations of the proposed strategies, other processing variants were mentioned: agglomeration; briquetting.