The possibility of selective reduction of oxidized nickel ore containing 40 - 50% iron in a fluidized-bed furnace was investigated, showing good results with respect to the reduction of nickel and cobalt. It is established that the use of a furnace with a single fluidized bed does not ensure a favorable heat balance. It is therefore necessary to use a furnace with two fluidized beds. In this case the excess carbon monoxide and hydrogen are burned in the upper bed, thus ensuring preliminary heating of the ore.