Abstract: A process for making a binder from steelmaking slag. About 5-30 wt. % of a reforming agent selected from the group consisting of silicate rock, mineral, calamine, glass waste, foundry waste sand, waste brick, red mud, volcanic spouting matter, blast furnace slag, desilica slag, iron oxide and mixtures thereof is added to a molten steelmaking slag, causing a molten reaction forming a reacted steelmaking slag. The reacted steelmaking slag is rapidly cooled to form a powder. Iron is removed from the powder and the powder is then mixed with from about 3-5 wt. % of a powder selected from the group consisting of lime, plaster, cement and mixtures thereof, which can then be used as a binder for pellets or briquettes.