FAST Metals has partnered with Metalox Mineral Corp. and raised $4.3 million in pre‑seed funding to advance its red‑mud recovery projects. Under the commercial partnership, FAST will process one long ton of red mud and other iron-bearing waste feedstock per week at Metalox’s Florida facility. 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, $3 trillion to $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).