The research assesses the possibilities of using local minerals to create foundry alloys that are used in conditions of low temperature. The mineral-geochemical composition of iron ore from Verkhnyaya Amga ore occurrences in the Aldan region of the Sakha Republic (Yakutia) was studied in detail. The expedience of using iron ores from this ore occurrence to develop new cold-resistant and high-strength steels was analyzed. The chemical composition and microstructure of the cast alloys were studied. The ore contains oxides of alkaline earth metals: MgO; CaO; Sr0 and BaO, the total content of which is 4.2%, that contributes to the process of deoxidation of the melt during its cooling, and the deoxidation product in the form of oxides and other chemical compounds based on Ca, Sr and Ba floats into slag. During crystallization, the melt is cleaned of detrimental impurities, non-metallic inclusions, gases, pores, etc. Alloy is smelted from enriched ore, samples for static tension and toughness are made in order to study the physicomechanical properties. Microstructure of the obtained alloy and structural steel subjected to static tension at an external load of 0.8 yield strength (σ = 0,8 σт) was investigated. Mechanical properties and dynamic characteristics were measured. Analogues for comparing the strength and plastic properties were given.