In this work, the recovery of valuable metals from Bayer red mud using hydrometallurgical techniques and the subsequent use of the solid remaining after leaching as the principal component of the fired bricks were analyzed. Water, sulfuric acid, and sodium hydroxide were used as leaching agents. Different L/S ratios and contact times were also tested. According to technical, economic, and environmental considerations, the optimal conditions to recover valuable elements from red mud were 2 M H2SO4, in contact for 24 h, with an L/S ratio = 5. Under these conditions, high leaching yields of valuable elements such as La (47.6%) or V (11%) were achieved. After the leaching process, the remaining solid was mixed with clay and water to produce bricks. Two doses of red mud (50 and 80% w) and two different sintering temperatures (900 and 1100 °C) were tested. When the proportion of treated RM in the mix was increased, the compressive strength of the bricks was reduced, but it was increased as the sintering temperature was increased. The environmental safety of the bricks manufactured (leaching of heavy metals and radionuclides) was also studied, and it was found that it was more favorable when red mud was treated instead of fresh red mud being used.