The article presents the results of comprehensive thermodynamic modeling and laboratory tests conducted for smelting a complex ferroalloy of silicon, manganese, and chromium (Fe-Si-Mn-Cr) from chromium, medium-grade manganese ores, and high-ash coals from Kazakhstan. Thermodynamic analysis was performed using HSC Chemistry software to model the Fe-Si-Mn-Cr smelting process over a temperature range of 900–1800 ℃. This analysis involved six actual charge compositions with solid reductant (Csolid) consumption ranging from 5 to 20 kg per 100 kg of Cr and Mn ore mixture. The mechanism of the combined carbothermic reduction of Cr, Mn, Si, and Fe was investigated using the Cr-Si-Al-Ca-Mn-Mg-O-C system. According to thermodynamic data, the optimal consumption of Csolid per 100 kg of ore mixture is 17 kg, and the optimal temperature range for smelting ferroalloys is between 1600 and 1700 ℃. Laboratory tests were conducted in a high-temperature Tamman furnace at 1700 ℃, resulting in experimental samples of the new complex ferroalloy with an average composition of 14.85% Fe, 14.05% Si, 7.55% Mn, 57.54% Cr, and 6.01% C, with P < 0.03% and S < 0.02%. The phase composition included (Cr, Fe, Mn)3Si and carbides Cr23C6 and (Fe, Mn)3C. The resulting alloy is suitable for alloying high-carbon and tool steels.