The neat thing here is that the impurities stay behind in the electrolyte bath after the iron is removed (unsure if it's a gravity mechanism or a cathode attraction, but the molten iron ends up on the bottom of the electrolytic cell). As the article explains, this means that even cheap, low-grade ore with lots of impurities can be used with this technique.
The other advantage is that the direct chemical reduction of iron eliminates the multi step (ore in a blast furnace to get pig iron, pig iron + coke, etc) procedure in traditional production. Among other benefits, you're now only heating the material once instead of 2-3 times, and as a result, you actually consume less total energy in this process even though you have to reach a higher temperature in the single heating.