—The fuming of copper smelting slag in a Vanyukov furnace by the products of methane conversion by oxygen, water vapor, and carbon dioxide in the temperature range 1473–1773 K is thermodynamically modeled. For this purpose, a technique is developed to describe the changes in the phase compositions in the systems under study during their bubbling as functions of the amount of an introduced reducing gas; this technique is characterized by cyclic calculations and the removal of the formed gases and metal phase from the working medium composition. The calculation results demonstrate that the interaction of the gas with melt oxides proceeds in two stages regardless of the melt composition. At the first stage, Fe 3 O 4 is reduced to FeO and ZnO, to Zn. Therefore, the content of Fe 3 O 4 and ZnO in the melt decreases and that of FeO increases. At the second stage, metallic iron appears and the content of iron and zinc oxides decreases. A significant influence of temperature on fuming is shown. When the temperature increases from 1473 to 1773 K, the fuming process is significantly intensified, which is accompanied by a fourfold decrease in the amount of the reducing gas required to achieve close degrees of zinc recovery. The gas composition weakly affects the process. The most effective reducing agent is shown to be the gas formed by the steam conversion of methane, which is due to the minimal costs of its production. The results obtained make it possible to predict the indicators of the process of fuming by methane conversion products and will be useful for creating new technologies.