We show how the general features of the electronic structure of the Fe-based high-Tc superconductors are a natural setting for a selective localization of the conduction electrons to arise. Slave-spin and dynamical mean-field calculations support this picture and allow for a comparison of the magnetic properties with experiments. RI Capone, Massimo/A-7762-2008; de' Medici, Luca/H-5071-2011