For the past ten years, there has been a trend toward strengthening polymer composites with the help of natural fibers derived from plant and animal sources, which has led to ecological imbalance. Hence, to maintain the ecological balancing factors, the researchers and industrial experts are concentrating on the reinforcement of naturally available mineral materials in polymer products to minimize the polymer percentage and boost the economic feasibility of products with lightweight properties. In fact, incorporating basalt mineral into different polymer matrices is a highly creative notion that might open up some very interesting, uncharted territory. Basalt helps to create a pollution-free environment and balance ecological challenges by reducing the polymer ratio in the objects without many changes in their core properties. Basalt is desirable because of its outstanding thermal and mechanical characteristics, simplicity of processing, affordability, and lack of toxicity. Concerning these points, the current study aims to fabricate mineral particles (basalt)-reinforced (30 wt%) different polymers (synthetic epoxy, bio-epoxy, polyester, vinyl ester, polylactic acid, polypropylene, and high-density polyethylene) composite for lightweight thermal applications. The casting technique was used for the fabrication of thermoset polymer composites, whereas compression molding was employed to fabricate thermoplastic composites after an internal mixing process. The fabricated composites are subjected to thermogravimetric, thermomechanical, and dynamic mechanical analysis to analyze the thermal stability of the resultant composites. The Thermogravimetric analysis revealed that most of the samples exhibited good thermal stability with the addition of 30 wt% basalt fillers. As a result of moisture content as well as certain volatile compounds, if any, only a minimal weight loss in the range of 30 °C to 130 °C was seen at the early phase of heating for all neat and composite samples. The Thermomechanical analysis findings showed that basalt reinforcement at 30 wt% in synthetic epoxy, Polylactic acid, Polypropylene, and High Density Poly Ethylene polymers causes a reduction in dimensional variations up to 70 °C. This is because the basalt particles, particularly in the hard glassy area, limit the passage of molecules at lower temperatures. The higher stiffness of the basalt particles has significantly contributed to the viscoelastic properties of all the thermoset and thermoplastic composites. Because of the extreme closeness and thick packing of the components, which are in a dormant condition, the glassy areas in particular have a greater storage modulus. Based on these outcomes, these basalt-reinforced composites can be employed for lightweight thermal applications, which have the advantage of economic and eco-friendly features.