Besides producing a substantial portion of anthropogenic CO2 emissions, the industrial sector also generates significant quantities of solid residues. Mineral carbonation of alkaline wastes enables the combination of these two by-products, increasing the sustainability of industrial activities. On top of sequestering CO2 in geochemically stable form, mineral carbonation of waste materials also brings benefits such as stabilization of leaching, basicity and structural integrity, enabling further valorization of the residues, either via reduced waste treatment or landfilling costs, or via the production of marketable products. This paper reviews the current state-of-the-art of this technology and the latest developments in this field. Focus is given to the beneficial effects of mineral carbonation when applied to metallurgical slags, incineration ashes, mining tailings, asbestos containing materials, red mud, and oil shale processing residues. Efforts to intensify the carbonation reaction rate and improve the mineral conversion via process intensification routes, such as the application of ultrasound, hot-stage processing and integrated reactor technologies, are described. Valorization opportunities closest to making the transition from laboratory research to commercial reality, particularly in the form of shaped construction materials and precipitated calcium carbonate, are highlighted. Lastly, the context of mineral carbonation among the range of CCS options is discussed.