Oxidised pellets have become an indispensable high-quality charge for blast furnaces. Nevertheless, high-quality pellet feeds are becoming scarcer and scarcer. To broaden the range of sources of pellet feeds and reduce the production cost of pellets, more steel mills are predicted to use coarse iron ore fines with a relatively low iron grade and low impurities for the preparation of desirable pellet feeds through a typical wet grinding–settling–filtering process. In this work, the grinding, settling and filtering behaviour of Brazilian and Australian iron ore fines are studied and compared, with the aim of discovering the internal relationship between the mineralogical characteristics of different iron ore types and their grinding–settling–filtering performance. Additionally, the effects of ore blending on pellet preparation were investigated. The results show that, usually, the higher the hardness of the iron ore, the more grinding energy is required. Australian and Brazilian ore fines exhibit good grindability, with a Bond work index of about 10–15 kW·h/t. Furthermore, ore blending can reduce grinding energy consumption and improve settling and filtration rates, and the addition of finely ground Australian ores improves the balling performance of pellet mixtures. At the same bentonite content, the ball drop strength of the three blends with added Australian ore is significantly higher than that of the base blend, and the fired pellets obtained from Blend 1, Blend 2 and Blend 3 blends exhibit good metallurgical properties.