Abstract: Based on nickel and iron valuable metallic elements in Jinchuan slag, the rule of the reduction of iron-nickel oxide in slag and the conductive characteristics of oxygen ion-permeable membranes were discussed by the no-contacting smelting reduction method and the continual and divided charging method. The results show that carbon-free ferronickel can be obtained with liquid silver as a cathode. The reduction rate of iron-nickel oxide can be improved by the continual and divided charging method. The reduction rate in the earlier stage of reduction increases and the reduction time in the terminal stage decreases with the proportion of NiO in iron-nickel oxide increased. In addition, the reduction rate of iron-nickel oxide will be improved by increasing the reduction temperature, but the electric quantity through the external circuit will be decreased.