Mining operations degrade natural ecosystems by generating a large quantity of mine tailings. Mine tailings remain in dams/open ponds without further treatment after valuable metals such as iron ore have been extracted. Therefore, rehabilitation of tailings to mitigate the negative environmental impacts is of the utmost necessity. This review compares existing physical, chemical and amendment-assisted phytoremediation methods in the rehabilitation of mine tailings from the perspective of cost, reliability and durability. After review and discussion, it is concluded that amendment-assisted phytoremediation has received comparatively great attention; however, the selection of an appropriate phytoremediator is the critical step in the process. Moreover, the efficiency of phytoremediation is solely dependent on the amendment type and rate. Further, the application of advanced plant improvement technologies, such as genetically engineered plants produced for this purpose, would be an alternative solution. Further research is needed to determine the suitability of this method for the particular environment.