Ferronickel slag (FNS) is a byproduct produced during ferronickel alloy manufacturing, primarily used in the manufacturing of stainless steel and iron alloys. This material is produced by cooling molten slag with water or air, posing significant disposal challenges, as improper storage in industrial yards can lead to environmental contamination. This study investigates the chemical and mineralogical characteristics of reduction ferronickel slag (RFNS) and its potential use as an alternative aggregate in hot mix asphalt (HMA). The research is based on the practical application of HMA containing RFNS in an experimental area, specifically the parking lot used by buses transporting employees of Anglo American, located at the Codemin Industrial Unit in Niquelândia, Goiás, Central Brazil. Chemical analysis revealed that RFNS primarily consists of MgO, Fe2O3, and SiO2, which are elements with minimal environmental impact. The lack of significant calcium content minimizes concerns about expansion issues commonly associated with calcium-rich slags. The X-ray diffractogram indicates a predominantly crystalline structure with minerals like Laihunite and Magnetite, which enhances wear and abrasion resistance. HMA containing 40% RFNS was tested using the Marshall methodology, and a small experimental area was subsequently constructed. The HMA containing RFNS met regulatory specifications and technological controls, achieving an average resilient modulus value of 6323 MPa. Visual inspections conducted four years later confirmed that the pavement remained in excellent condition, validating RFNS as a durable and effective alternative aggregate for asphalt mixtures. The successful application of RFNS not only demonstrates its potential for local road paving near industrial areas but also underscores the importance of sustainable waste management solutions. This research highlights the value of academia–industry collaboration in advancing environmentally responsible practices and reinforces the contribution of RFNS to enhancing local infrastructure and promoting a more sustainable future.