The distinctive characteristic of Novo-Bakalsky deposit is the low content of iron (35%) at the significant content of magnesium oxide (11%) that complicates processing of these ores. Storey-chamber systems of development are applied for working off of siderites at Bakalskoe Ore Administration; development by the open chamber systems was considered as competing variant. Technical and economic comparison of considered variants has shown, that open chamber variant with sublevel caving using self-propelled equipment is the most efficient.