Geopolymer materials are increasingly being considered as an alternative to environmentally damaging concrete based on Portland cement. The presented work analyzed waste from mines and waste incineration plants as potential precursors for producing geopolymer materials that could be used to make lightweight foamed geopolymers for insulation applications. The chemical and phase composition, radioactivity properties, and leachability of selected precursors were analyzed. Then, geopolymer materials were produced, and their strength properties were examined through compression and flexural tests. The results of the strength tests guided the material selection for foamed geopolymer materials. Next, geopolymer foams were foamed with hydrogen peroxide and aluminum powder. The produced foamed materials were subjected to strength and thermal conductivity tests. The results demonstrated the great potential of mine waste in the synthesis of geopolymers and the production of lightweight geopolymer foams with good insulating properties.