In the process of mining, waste rock containing a small amount of valuable minerals will be produced. With the gradual consumption of industrial ores, the recovery and utilization of valuable minerals in the waste rock will become inevitable. Taking the drainage waste rock in Durong mining area as the research object, using the technology of "photoelectric separation + magnetic pulley + dry magnetic separation", the drainage waste rock was divided into three particle sizes: -150mm ~ +25mm, -25mm ~ +10mm and -10mm. The test results of the whole process show that when the zinc grade is 0.408%, Cu grade is 0.045% and Sn grade is 0.044%, the coarse concentrate with Zn grade of 1.781%, Cu grade of 0.159% and Sn grade of 0.153% can be obtained. The recoveries were Zn51.57%, Cu42.81% and Sn43.14%. The research results are of great significance for the deep exploitation of mineral resources, the extension of mine service life and the sustainable development of enterprises, and have a good demonstration effect and application prospect.