The paper presents a brief overview of magnetic exploration done under the ministry of geology and mineral resources, along with an analysis of the existing problems both in its application and research. It is suggested that magnetic exploration should make its contributions to the investigation of regional geology and geology at depths, as well as to the prospecting and exploration for a wide variety of mineral resouces. Research should also be carried out on the method and tecknique of high precission magnetometry, data processing and interpretation required in accordance with different new tasks, determination of physical propreties, such as remnant magnetism of rocks and ores, piezomagnetism etc, according to the actual geological problems and tecknological capacities.