US mining tech startup FAST Metals is moving closer to commercial deployment after raising $4.3 million in pre-seed funding and securing its first customer, Metalox Mineral Corporation. The funding round was led by New Climate Ventures, with backing from Azolla Ventures, Humba Ventures, Astor Swiss, and Rio Tinto’s mining technology accelerator with Founders Factory. Transforming toxic mining waste into critical materials A growing mountain of industrial waste could become a new source of critical materials. Gostu said the process aims to unlock previously untapped resources from industrial waste while reducing the environmental impact associated with traditional waste management. As governments in the US and other Western markets look to reduce their dependence on China’s dominance across the critical minerals supply chain, the startup is positioning waste recovery as a potential alternative source of strategic materials.