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The propagation of high frequency electromagnetic waves in the low temperature magnetized plasma with ferrite grains (MPFG) is considered. The dispersion properties of MPFG are simultaneously characterized by the permittivity and permeability tensors. The dispersion of the permeability is caused by the high frequency magnetization of the grain subsystem and is important in the vicinity of the frequency of ferromagnetic resonance, which coincides with the electron cyclotron frequency ωc. The MPFG becomes transparent for the waves that cannot propagate in conventional electron-ion magnetized plasma. It is shown that the refractive index of the extraordinary wave propagating along and transversal to the external magnetic field with frequencies close to ωc can be negative as well as positive. For the typical parameters of MPFG, the group velocity of this wave is much smaller than the speed of light. The refractive index of MPFG matched with the free space is obtained for waves propagating at an arbitrary angle with respect to the applied constant magnetic field. The results obtained clearly shows that the dispersion properties of MPFG have all the known properties of left-handed media in the vicinity of ωc.

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