In order to develop new basic light-weight refractory raw materials, natural forsterite (＜0.045 mm) and magnesite (＜0.045 mm) were batched according to the chemical composition of forsterite (2MgO · SiO2), wet milled, semi-dry molded and calcined at different temperatures. Then cylinder samples with diameter of 36 mm were prepared. The effects of the wet milling jar rotation speed, the calcination temperature and the anthracite addition on the properties of the samples were researched. The results show that: when the calcination temperature exceeds 1 300 ℃, all the mineral phases have converted to the desired phases; with the increase of the rotation speed and the calcination temperature, the bulk density of the samples increases, the apparent porosity decreases and the compressive strength improves. By comprehensive consideration, 400 r · min-1 and 1 450 ℃ are taken as the optimal scheme. High addition of anthracite makes the samples light, so series of light-weight raw materials with uniformly distributed micro-pores can be gained. The light-weight raw materials achieved were used for insulation refractory castables, obtaining good application.