The phytostabilization of waste material generated during mining and processing of iron ore through Calophyllum inophyllum L. have been investigated. Iron ore tailings and its varying composition with garden soil were taken to study plant growth, chlorophyll content and metal uptake pattern of Calophyllum inophyllum L. These studies indicate that 100% survival of plant species was noted in all the treatments without any toxicity symptoms. The increase in growth parameters and chlorophyll content along with the high metal accumulation in plant tissues suggests that Calophyllum inophyllum L. may be a potential tool for phytoremediation. The accumulation of Pb (1662 microgm/gm) and Fe (2313 microgm/gm) was observed to be maximum in the plant tissues followed by Cu, Zn, Cr, and Ni. The TF values for most of the heavy metals was observed to be > 1 which indicates that the plant can efficiently translocate these toxic metals to its above ground parts. Removal of more than 30% of the most of the heavy metal like Fe, Pb, and Cu & Zn has been observed in all the treatments during one year of observation. The overall study clearly suggests that the plant can be used as an efficient tool for restoration of mining wastes and other similarly contaminated sites.