Metals and alloy production are in ever-growing demand, with over two billion tons produced annually to maintain pace with technological advancements and industrialization. However, conventional alloy production routes, which use carbon sources as reductants, emit CO₂ as a by-product and contribute approximately 40% of all industrial greenhouse gas emissions. Replacing carbon with hydrogen as the reductant offers a sustainable pathway to produce metals and achieve the goal of carbon neutrality by 2050. The co-reduction of metal oxide mixtures using hydrogen as a reductant offers a one-step approach toward sustainable alloy production. This work shows the characteristics of hydrogen-based direct reduction of multi-component metal oxide consisting of Fe₂O₃, Co₃O₄, NiO, and Mn₂O₃. The reduction kinetics of the complex oxide mixture was quantitatively analyzed by thermogravimetry analysis and the microstructure of the reduced samples was characterized by X-ray diffraction and scanning electron microscopy. Moreover, the underlying reduction mechanisms were discussed.