Abstract: In a process for the production of hydraulic binders, crude steel and/or alloys, such as, e.g., FeCr or FeV, from basic steel slags containing chromium and/or vanadium, the liquid steel slag is mixed with an additive selected from the group consisting of blast furnace slag, electric arc furnace slag, dusts from steel production, metallic waste substances or refuse incineration residues and/or with acid additives for lowering the viscosity, whereupon steel is sedimented out of the liquid slag and the remaining slag in a first reduction stage is reduced to metallic iron having an iron oxide content of below 5 wt. % and above 1 wt. %, whereupon the remaining slag melt in a second reduction stage having a higher reduction potential as compared to the first reduction stage is further reduced to metallic Cr or V or ferroalloys thereof and the hydraulically active slag is separated.