Different alternative technologies of high-grade magnetite concentrates production have been considered by the example of the Severny and Mikhailovsky MCC magnetite concentrates with iron grade of 65.3–65.6 %. It is shown, that wet magnetic separation of concentrates with preliminary re-grinding to 95–98 % –44 microns size permits to increase iron grade to 67.7–68.7 %. By means of reverse cation flotation, concentrates were obtained with iron grade of 69.2–69.7 %. With that, flotation froth products grinding was 20–30 %. Since the magnetite concentrates in question contain 80–85 % of free magnetite grains of 20–40 microns size, it was proposed to improve magnetic separation flow sheet by means of preliminary classification of feed concentrates in small diameter hydrocyclones (Mozly or Krebs models). In order to produce high-grade concentrates with iron grade of 69.5 % (Severny MCC) and 68.7 % (Mikhailovsky MCC) by this flow sheet, re-grinding of hydrocyclones sands will be required in the quantity not exceeding 50 %. Large-batch testing of this technology, permitting to improve processing parameters with significant reduction of power inputs, was recommended.