It is a fibrous material produced from minerals such as basalt, lime, dolomite. Production processes may vary but it is similar with glass wool production indeed. Like in glass wool low density ones are in bat form and high density ones are in board form. Galvanized wire reinforced mineral wool is mostly used in industrial applications.
Mineral wool like in glass wool has low compression resistance for low density products and higher resistance for high density products.
Mineral wool is an open pore material. 99% of the material is air gaps. Thus if necessary precautins are not taken, it easily absorbs water. Some versions of mineral wool with silicone additives are said to be water resistant.
Mineral wools which contain calcium are not resistant to strong acid. If there is sulphur inside, it may cause corrosion on the metal.
Temperature resistance is as high as 750 Co. However binders inside starts to burn out at 250 Co and material can notbe used again if it is uninstalled. Material is classified as non flammable.
Vapor diffusion coefficient of mineral wool is around 1,1-1,4. Thus for the applications ( for condensation contol at colling pipes etc. )where vapor is not wanted to be diffused, hotter side should be sealed with a vapor barrier.