A method of treating wood chips to be used as a media for ameliorating oil spills on land or water involves heating in a mixture of petroleum wax and vegetable oil to remove moisture content and open the pores of the wood chip to allow the oil/wax blend to penetrate into the interior of the wood chips and subsequently grinding up the chips to a predetermined mesh size. The ground chips impregnated with wax/oil are then blended with magnetic iron ore concentrate and packaged/bagged for later distribution on an oil slick. The magnetic iron ore concentrate clings to the ground, oil/wax coated wood chips and facilitates retrieving the ground chips that have absorbed the spilled oil using a magnetic pick-up.