The article presents an analytical review of the current state of the iron ore base of the ferrous metallurgy of Russia and the world, identifies the largest iron ore provinces and iron ore producers. The promising directions of development and improvement of the quality of the iron ore base of Russia and the features of the development of new deposits of rich iron ores are identified. Effective technologies for the development of rich iron ores deposits that ensure an increase in production volumes are proposed. The geomechanical justification of rational technological parameters that are easily adapted to changes in mining and geological conditions has been performed. Based on the results of field studies, the use of an elastic-plastic model with the Coulomb – Mohr strength criterion for modeling changes in the stress-strain state of an ore rock mass during mining operations is justified and recommendations for ensuring the stability of mine workings are developed. Effective engineering and technical solutions for the complex development and deep processing of rich iron ores with the production of fractionated sinter ore, which increases the efficiency of metallurgical processes, the production of high-grade iron oxide pigments and iron ore briquettes, which increase the competitiveness of iron ore companies and the full use of the resource potential of deposits, are presented.