This disclosure relates to a process for selectively extracting Fe(III) ions from an aqueous feedstock containing Fe(III) ions and non-ferric ions. The process comprises contacting the feedstock with an organic phase comprising a phosphonium salt or ammonium salt ionic liquid under liquid-liquid extraction conditions for a time sufficient to allow transfer of at least some of the Fe(III) ions from the feedstock to the organic phase to provide an Fe(III) ion laden organic phase and an Fe(III) depleted feed-stock, and separating the Fe(III) ion laden organic phase from the Fe(III) depleted feedstock.