This communication reports conversion phenomena in which CO2 and H2O gases are transformed into CO and H-2, respectively, when exposed to a mixture of molten CaO-rich metallurgical slag and V2O3-rich gasifier slag. On reaction, CO2 and H2O are thermodynamically driven to become CO and H-2, respectively, by giving up oxygen over the formation of calcium orthovanadate in the slag. The concept was experimentally investigated with a synthetic slag heated to 1500 degrees C (an assumed slag tap-out temperature in the metallurgical industry) in a CO2 saturated atmosphere. On heating, a rapid drop in oxygen partial pressure occurred between 1405 degrees C and 1460 degrees C, where 97% of CO2 transformed to CO. Potential industrial applications with the H2O-to-H-2 conversion are then explored using detailed process computations. If the process is made economically viable, CO2 and H2O could be converted into products that are environmentally and industrially attractive and that have the potential for energy savings and greenhouse gas reduction in a process. Copyright (C) 2014, Hydrogen Energy Publications, LLC. Published by Elsevier Ltd. All rights reserved.