Ordzhonikidze Mine was a part of Lenina Mine Administration of Kryvbasruda (Kryvbas mine) Industrial Association. The first pit-hole on its territory was passed as early as in 1906. On the location area of an old shaft established at the time of Serhiy Kolachevskyi - the first owner of a local mine, there was built a new mine in 1929 which was put into operation in 1933 under the name of "Capital". A present name was given in 1934. At first the shafts were passed at depths of 170 and 212 m. The mine was considered as the most powerful in Kryvyi Rih region with potential output of 1,5 million tones of iron-ore per year. In1938 ore mining was accomplished on horizon of 267 m and in 1941on horizon of 327 m. It had a double-skip hoist with a capacity of 8 tons.
In August, 1941 the mine was destroyed and flooded. Reconstruction started in 1945 and the first object for reconstruction was a pile-driver. In 1950 the mine was equipped with a double-skip hoist. In 1950 the mine capacity reached 2,1 million tones. The mine worked to the depth of 627 m, after that it was replaced by more modern Lenin Mine. In 1980es Ordzhonikidze Mine was still extracting rich iron ore and started extraction of magnetite quartzites. From the beginning of 1990es it worked in terms of economic crisis and was to be closed. Now the owner of the mine is PJSC Central Mining and Concentration Complex.
In 2001 functioning of the mine was stopped and resumed only in May, 2004. It is the only mine in Kryvyi Rih basin where poor magnetite quartzites are extracted and since 1985 they have been transported to the Central Mining and Concentration Complex.
In the ore field of the mine there are considerable deposits of magnetite quartzites. Their extraction is conducted on horizon of 527 m. One large ore body is being worked-out that gives an opportunity of a relatively low mining cost.
Now Ordzhonikidze Mine is developing deposits of unoxidized magnetite quartzites of "South-magnetite deposit". Now the annual capacity of the Mine is 1,6 million tons of ferrous magnetite quartzites. Ferrous magnetite quartzites comprising 24,5% of magnetite ferrum are being extracted. Projected capacity of the mine is 2 million tons. Industrial deposits of the Ordzhonikidze mine are 106 million tons of poor ferrous quartzites.
Surface - chamber extraction with resting of solid blocks between the chambers is used.
On June, 13, 2010 there was a downfall of the area of about 16 hectare and at10 to 80 m depth at the Ordzhonikidze mine. Downfall of the rock happened while some scheduled operations were being carried out on horizon of 447 m. This is a new formation of precipices on the Kryvyi Rih mineries which have no analogues Ukraine and Europe.