The article presents the results of investigation focused on the utilization of ash and slag wastes (ASW) in Russia including investigation of chemical and physical properties of ASW and processing products. Many factors influence the technological properties of ash and slag materials: naturals, processes and environments. The integrated treatment of ash and slag wastes of both stored and re-formed types will allow obtaining the following commercial products: coal concentrate, iron concentrate, aluminosilicate cenospheres, aluminosilicate product. In this study we have analyzed the methods for separation of ASW iron-containing part using the different types of the magnetic separation from the ash and slag material from one of the combined heat and power plant (CHPP) in the Russian Far East Federal District. The greatest interest is the dry magnetic separation with travelling electromagnetic field. The subject of research was a sample taken from one of ash dump of CHPP in the Far East. In the study iron concentrate containing Fetotal = 64% was obtained recovery 68% in the low intensity (up to 5 kOe) travelling magnetic field.