Iron production furnace equipment includes a melting reactor into which iron oxide-containing raw material and slag formers are added. A melter arrangement melts the iron oxide-containing raw material and transforms the melted raw material into liquid slag. A smelting reduction reactor is connected to the melting reactor by a slag transfer arrangement. The smelting reduction reactor includes a heater arrangement for heating the slag, a port for supplying a reductant for reducing the iron oxide in the slag into a liquid iron melt and produces a combustible gas mixture including at least one of CO and H2. A gas connection is provided between the smelting reduction reactor and the melter arrangement. The melter arrangement in turn comprises a combuster combusting the gas mixture for purpose of melting the raw material.