A method is provided for compounding, homogenizing and consolidating compounds. In one embodiment, the charge components are mixed in a controlled addition process, then the newly-formed compound is heated to become totally molten, followed by a rapid quench at room temperature. In an alternate embodiment, the components are supplied with an excess of one component acting as a solvent, heated to dissolve additional components, and then the solvent is separated from the compound to produce homogeneous consolidated compounds. The methods herein are advantageously applied to provide an economical and fast process for producing CdTe, CdZnTe and ZnTe compounds.