Abstract: An apparatus for melting and rapid solidification casting of metal alloys has a crucible for molding a metal charge. The crucible has side walls, a top and a bottom having an orifice therein. Collectively, the side walls, top and bottom define an interior of the crucible. A portion of the dimensions of the side walls of the side walls and bottom is divided by longitudinal slits into at least two segments. A nozzle is disposed partially within the crucible and extends through the orifice. The nozzle has a first end in communication with the interior of tune crucible. A second end of the nozzle has a nozzle orifice therein for defining a stream of molten metal alloy. A cooling mechanism cools the top, side walls and bottom of the crucible. The apparatus has mechanisms for inducing alternating electrical currents within the metal charge and within the nozzle, and for establishing and maintaining pressure within the interior of the crucible.