FIELD: ferrous metallurgy. SUBSTANCE: invention relates to the processing of magnesium-rich siderite ores. The method includes crushing and screening of the original ore, magnetizing roasting, dry magnetic separation, additional grinding of the extracted magnetic fraction, leaching of magnesium from it, isolation of magnesium oxide from the leaching solution. In this case, the leaching of magnesium is carried out with a solution of nitric acid at pH=2.5-3.0 and the ratio of magnetic fraction to solution of nitric acid is 1:2-4 to obtain scandium-containing magnesium nitrate solution. Scandium is extracted from the resulting solution using a TVEX solid extractant containing a neutral organophosphorus compound to obtain scandium-saturated TVEX. Next, the extractant is regenerated to obtain a scandium concentrate and re-directed to extract scandium. Magnesium oxide from the leaching solution is isolated by the decomposition of magnesium nitrate. EFFECT: increase in the degree of magnesium extraction, associated selective extraction of scandium and technology reducing the number of operations. 3 cl, 4 dwg, 4 ex.