The basalt fiber is expected to become a trend for industrial fibers as they have better properties of heat-resistant, non-combustion, absorbent, soundproof, moistureproof, lightweight, corrosion resistant, and high strength properties. Also, the fiber is found to be non-toxic and harmless to the human body. Therefore, in this study, we analyzed the chemical and mineral compositions of powdered sludge of basalt produced at seven sites on Jeju Island for the development of fire resistance insulating material for a building. The results showed that the basalt stone sludge is made from only sodium calcium aluminum silicate and ferridioside components unlike the basalt rock.