US startup turning mining waste into defense minerals gets funds to reduce China reliance

FAST Metals raised $4.3 million in pre-seed funding to accelerate commercialization of its technology for recovering critical minerals from mining waste.

Metalox Mineral Corporation is its first customer, and the company has started processing red mud and iron-rich waste at a Florida facility to validate the process.

The new capital will help FAST Metals improve its technology and expand commercial partnerships across mining and critical minerals markets.

The startup aims to turn toxic waste into domestic defense and critical mineral supply, reducing reliance on China and creating new value from industrial byproducts.