This work is a review of the modern concepts of the accumulation of Fe and Mn in the Baikal bottom sediments and the regularities of formation of iron-manganese (including phosphate-bearing) nodules in the lake. Special attention is given to the probable participation of hydrothermal water in this process and the genesis of ancient nodules deeply buried in the Baikal sediments. The possible relationship between the shore ores and the nodules in the bottom sediments in the adjacent Baikal regions has been first shown.

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