Iron is one of the most important metallic elements and covers around 5.05% of the Earth's crust. It has widespread applications in our day-to-day life, from household equipment to large industries. Due to rapid increases in the demand for steel in both the global and domestic market, as well as due to an ongoing depletion of high-grade iron ores, industry actors and policy makers have started considering the utilization of low-grade iron ores. According to the National Steel Policy 2017, India aims to attain a steel production capacity of 300 MT by 2030. In order to achieve this target, we must improve the utilization of low-grade iron ores. In this study, we use a low-grade iron ore, specifically banded hematite jasper (BHJ) from Daitari Iron Ore Mines, Odisha, India. The aim of this study is to understand the morphology, mineralogy, texture, and chemistry of BHJ. The characterization of BHJ is carried out using X-ray diffraction (XRD), X-ray fluorescence spectroscopy (XRF), optical microscopy, and scanning electron microscopy with energy dispersive X-ray spectroscopy (SEM-EDS). The XRD results suggest that quartz is the major gangue mineral, while hematite is the major iron mineral. The XRF analysis shows that the Fe content of BHJ is around 30%, and its SiO₂ content is around 54%, along with minor elements in varying proportions. Optical microscopic studies indicate the presence of alternate bands of hematite and quartz in BHJ, while SEM-EDS demonstrates how iron and silicate phases are associated with each other. This study allows for the optimization of conventional liberation or beneficiation practices for low-grade iron ores.