Abstract: A method and an apparatus for the gaseous reduction of particulate iron ores is disclosed, wherein the reduced ore, commonly called DRI (Direct Reduced Iron) or sponge iron, is treated in a vertical shaft moving bed furnace and discharged from said furnace in solid particulate form at high temperature, e.g. above 500.degree. C. The shaft furnace is of the type wherein a bed of particles descends by gravity through said furnace which has an upper section where ore pellets, lumps, or the like are reduced by reaction with a hot reducing gas, and a lower section of a downwardly tapering, preferably, in a generally conical shape, which converges to an outlet discharge orifice of smaller cross sectional area than the rest of said furnace.