By the early 20th century only one peak remained, on which a chapel in the name of Transfiguration of the Lord[7] and a monument to the discoverer Stepan Chumpin were built.

The western slope of the mountain, composed of porphyry greenstone rocks, contains no deposits of magnetic ironstone.

On the summit and along the eastern slope were numerous deposits of magnetic ironstone in the form of huge irregular drifts and veins.

The magnetic ironstone of these veins had a varied structure: it could be dense and fine-grained, scattered as powder, or be in the form of boulders.

[2] The magnetic ironstone deposit at Blagodat mountain was discovered by hunter vogul Stepan Chumpin.

[7][17] In 1735, Blagodat was given to general-berg-director Curt Alexander von Schönberg, who undertook to pay the cost of the factory buildings and supplies.

After his death in 1763 for debts Goroblagodatskie factories and the mountain again went to the treasury from the heir P. I. Shuvalov, his son Count A. P.

[19] In 1870, after visiting the Ural factories, the Austrian metallurgist Peter von Tunner noted that "only in two... mountains — Vysokaya and Blagodat and their immediate vicinities, according to the most moderate calculation, there are such reserves of very rich and pure magnetic ironstone, which would last for a thousand years, if more than 40 or 50 million poods of ore were taken out annually.

His report pointed out the high level of mining operations at the deposit, as well as the advantages of roasting the ore over smelting to reduce sulphur.

[12] By the early 2000s, total production at the deposit reached 150 million tonnes of ore. By that time, the average iron content in the mined ore was about 30%.

A monument dedicated to the discoverer of the deposit, Stepan Chumpin, was built on the summit of Blagodat mountain in 1826.