Abstract: To address the environmental pollution caused by the extensive use of cement in traditional grouting materials and to promote the resource recycling of solid wastes, a novel geopolymer grouting material was prepared using industrial waste residues such as red mud and fly ash, taking the construction of a running tunnel of the Nanchang Metro Line 1 as a case study. Comparative research was conducted on the physical properties of the newly developed material and traditional cement-based dual-liquid grouts. Using finite element numerical simulation, the influence of backfill grouting reinforcement using the two types of grouts on surface settlement was analyzed. Results indicate that the novel geopolymer dual-liquid grout exhibits excellent physical and mechanical properties. In Nanchang′s water-rich and low self-stability strata, the surface settlement values after grouting reinforcement with both types of grouts show minimal differences, with high consistency between theoretical and measured values. The red mud-fly ash geopolymer dual-liquid grout, prepared from industrial wastes, demonstrates strong environmental friendliness.