FAST Metals has partnered with Metalox Mineral Corp. and raised US$4.3 million in pre‑seed funding to advance its red‑mud recovery projects. Gostu, FAST’s CEO, said the company’s patented technology, “removes iron from low-grade feedstock and turns alumina refining waste into previously untapped sources of minerals and metals.” A multi‑trillion‑dollar blind spotFAST says global aluminum oxide production has left more than 4 billion tonnes of red‑mud waste in stockpiles, containing, what it estimates as, US$3 trillion to US$4 trillion worth of metals. A 2021 MDPI paper reports similar red‑mud waste figures. Its early-stage investment has been led by New Climate Ventures with backing from Azolla Ventures, Humba Ventures, Astor Swiss and Rio Tinto (NYSE: RIO).