A process for treating a finely particulate, in particular metal-containing, charge material: The charge material and a treatment gas, in particular a reduction gas, are introduced into a fluidized bed chamber of a fluidized bed reactor to form a fluidized bed. After at least partial reaction in the fluidized bed, the treatment gas is discharged from the fluidized bed and, outside the fluidized bed, is at least partially reprocessed, preferably oxidized, by an exothermic, chemical reaction with a reactant, preferably with a gaseous and/or liquid oxidizing agent. The thermal energy of this reaction is at least partially introduced into the fluidized bed chamber, in particular into the fluidized bed, or being discharged therefrom to affect the temperature of the particulate material above the bed. Also an apparatus for operating such a fluidized bed includes the chamber, lines into and out of the chamber for gas and material and a cyclone at the chamber for the material.