Investment casting, also known as lost-wax casting, involves making a wax pattern of the desired part, coating it with refractory material to create a ceramic mold, melting away the wax, and pouring molten metal into the mold cavity. This allows for the production of parts with complex geometries and close tolerances with minimal finishing required. Suitable for casting metals that are difficult to machine like aluminum, copper, and alloys. While allowing for intricate designs, investment casting has limitations on part size, thickness, and material selection due to the high costs involved.