Abstract: This invention relates to a hydrometallurgical process for recovering the values contained in metallurgical residues, such as anode mud. In the first step of the process the residue is leached with an alkali carbonate bearing cyanide solution in the presence of an oxidizer, with agitation. The resulting pregnant solution is separated from the barren solids, and subsequently treated for the recovery of the value metals. In the preferred embodiment the recovery is conducted in an electrolytic cell, but known ion exchange processes are equally suitable. The reagent solution is then passed through an ion exchange system to remove trace metal residuals, impurities and degradation products. Next the original chemical composition of the now barren extractant is restored by chemical replenishment or addition, and the regenerated reagent is recirculated for contact with fresh residue and oxidizer.