Abstract: Based on the fact that red mud contains valuable elements such as flux and iron required for carbon-thermal reduction of alkali boiled black and white tungsten slag, Fe-Mn-W-Sn alloy was prepared by synergistic carbon-thermal reduction recovery of alkali-boiled black and white tungsten slag and red mud, and harmful elements such as arsenic, lead and bismuth were separated. By investigating the effects of different alkali-boiled black-and-white tungsten slag to red mud ratios, amount of reducing agent, reduction temperature and melting time on metal alloying rate, the best co-disposal carbon thermal reduction process conditions are determined that the mass ratio of alkali-boiled black-and-white tungsten slag and red mud is 1∶1, with the reducing agent amount of 8%, melting temperature of 1 550 ℃ and melting time of 120 min. Under these conditions, the alloying rates of iron, manganese, niobium, tin, tungsten and tantalum are 99.40%, 23.75%, 25.08%, 89.46%, 40.94% and 17.53%, respectively. Arsenic, lead, bismuth and other harmful elements are reduced into soot. Research on the cooperative disposal of carbon thermal reduction between alkali-boiled black-and-white tungsten slag and red mud can not only recover valuable metals but also reduce additional resource like flux, which provides a good idea for the development of resource utilization.