Provided is a process for forming a bulk hydroprocessing catalyst by sulfiding a catalyst precursor made in a co-precipitation reaction, wherein up to 60% of the metal precursor feeds do not react to form catalyst precursor and end up in the supernatant. In the present disclosure, the metals can be recovered via any of chemical precipitation, ion exchange, electro-coagulation, adding a precipitant to generate additional catalyst precursor, and combinations thereof to generate an effluent stream containing less than 50 mole % of metal ions in at least one of the metal residuals, and to recover at least one of the metal residuals as a metal precursor feed, which can be recycled for use in the co-precipitation reaction. The process results in minimal metals in the waste water stream. In one embodiment, an effluent stream to waste treatment contains less than 50 ppm metal ions.