Relevant problems associated with treatment of industrial wastewater from heavy metal ions are considered. Due to industrial development, the amount of wastewater increases as well as the risks of heavy metals getting into surface and groundwater, accumulating in water bodies and becoming aggressive environmental pollutants, which affect the animal and human organisms. To assess the possibility of extracting metal ions (Cd2+, Zn2+, Co2+, Cu2+) from industrial wastewater and their further treatment, studies were carried out on redistribution of heavy metals in the “wastewater – waste” system using iron-magnesium production waste. Samples of the investigated waste weighing 0.1; 0.2; 0.5; 1; 1.5; 2 g were taken for wastewater volume of 50 ml per each subsample. Contact time varied from 5 to 180 min, waste fraction was 1 mm. The interaction process showed that the waste efficiently removes metal ions (Cd2+, Zn2+, Co2+, Cu2+) from industrial wastewater. The efficiency of removing a pollutant from the solution depends on the weight of the waste subsample, initial concentration of metal ions, and contact time.