Valorization of high-volume mine tailings could be achieved by the development of new geopolymers with a low CO2 footprint. Materials rich in aluminum and silicon with appropriate solubility in an alkaline medium can be used to obtain a geopolymer. This paper presents a study of copper mine tailings from Bulgaria as precursors for geopolymers. Particle size distribution, chemical and mineralogical composition, as well as alkaline reactivity, acidity and electroconductivity of aqueous slurry are studied. The heavy metal content and their mobility are studied by leaching tests. Sequential extraction was applied to determine the geochemical phase distribution of heavy metals. The studied samples were characterized by high alkalinity, which could favor the geopolymerization process. The water-soluble sulphates were less than 4%. The Si/Al ratio in mine tailing was found to be 3. The alkaline reactivity depended more so on the time of extraction than on the concentration of NaOH solution. The main part of the heavy metals was found in the residual fraction; hence, in high alkaline medium during the geopolymerization process, they will stay fixed. Thus, the obtained geopolymers could be expected to exert low environmental impact. The presented results revealed that studied copper mine tailing is a suitable precursor for geopolymerization.