Abstract: A process for recovering metal values from Ni and Co based superalloy scraps containing Cr, W, and Mo is disclosed. The process is a multistep pyrometallurgical oxidation process wherein the metal is successively oxidized by oxygen, Fe.sub.2 O.sub.3 or both in a tiltable electric arc furnace with slag withdrawal after each oxidation step in order to obtain a substantially pure Ni/Co alloy melt.