In this study, iron based alloys (Fe-Mo, Fe-Cr-Ni, etc.) were produced by using aluminothermic methods starting from Mill Scales obtained continuous casting processes. Mill scales are an oxidised layer of steel alloys containing iron oxide, which includes +2, +3 values, on the surface of slabs and billets occurring during annealing in heating furnace at integrated iron and steel milling plant, and continuous casting unit. In the metallothermic experiments, different ratios of starting mixtures and addition of the oxide powders (Al2O3, SiO2, CaO, MgO) were examined, and their effects on the metal recovery and alloy compositions were carried out. The samples were characterized by using chemical analysis (AAS), XRD, XRF and SEM/EDS techniques.