Topokinetic analysis of experiment results on carbothermic self-healing of "wustite-graphite" dispersed samples particles was carried out. It was shown a dispersed iron-graphite waste contains metallic iron, iron oxide, carbon and impurities. Observations and calculations made in this work confirmed two-stage nature of process. The first initial stage of the process, at degrees of conversion less than 0.4, can be described by the Roginsky-Schulz or Avrami-Erofeev equations. Apparent activation energy of the initial stage of the process was calculated to be 141.34 kJ/mol. It was found that the Bell-Boudoir reaction is a limiting factor in the process.