Purpose. To identify development regularities related to a stress-strain state and stability of the open pit walls while mining the steeply inclined iron-ore body at various stages of mining considering deterministic and stochastic components of the rock mass structural heterogeneity. Methodology. Numerical 3D simulation of the rock stress-strain state; application of the strength reduction procedure to determine a safety factor, taking into account the rock mass heterogeneity based on a stochastic model. Findings. The distribution of maximum shear deformations and displacements within the rock mass, making up the pit wall, has been obtained. Potential slide surfaces and safety factors have been determined at various stages of the inclined ore body mining. The effect of the rock mass structure on the pit wall stability has been estimated. A comparison of calculations based on the 3D and 2D models has been carried out. The correction coefficient has been obtained, which allows using the 2D model for multivariate calculations. The relationship of safety factor versus the overall slope angle has been developed. Originality. It has been proved that pit walls retain their stability (the stability factor (SF) is not less than 1.27) while mining the steeply inclined ore body with the transverse panels from top to bottom within each newly cut layer, despite the increasing depth of mining. It is shown that modeling of the real geological structure of a three-dimensional rock mass area factors into the decrease in (by 7%) the safety factor in comparison with the results of the homogeneous model. A probabilistic-statistical approach has been proposed to consider the heterogeneity of the rock mass and avoid unreasonably optimistic forecasts of the pit wall stability. It is shown that 3D modeling gives SF, which differs by 8% from the values obtained in the 2D model. This allows substantiating the correction coefficient to improve the 2D modeling results. Practical value. The regularity of changes in the pit wall stability has been determined depending on the overall pit slope angle in terms of mining-geological and mining-technical conditions of the Kachar deposit, taking into account the real rock heterogeneity.