Iron Ore

The official article can be found over at the official Minecraft wiki: http://www.minecraftwiki.net/wiki/Iron_Ore

Iron Ore can be smelted into Iron Ingots, enriched into 2 Iron Dust or purified in a Purification Chamber into an Iron Clump. You can also combine 8 Iron Dust with Cobblestone in a Combiner to make Iron Ore.

Smelting

This section requires expansion.

You can put Iron Ore into an Enrichment Chamber to enrich it into 2 Iron Dust.

There is a way to double your amount of Iron Ingots that you can get from Iron Ores.

Put your Iron Ores into an Enrichment Chamber, this will make 2 Iron Dust for each 1 Iron Ore.
Next put your Iron Dust into a Furnace or smelting machine to create Iron Ingots! Each Iron Dust is smelted into one Iron Ingot.

You can combine 8 Iron Dust with 1 Cobblestone to make 1 Iron Ore using a Combiner.