Can rusted parts be recycled by reversing the process using energy ?
What can be done commercially for rusted stuff (cars and such) is to apply rust converters that convert the iron oxide layer on the outside into a stable primer so it seals the outside of the metal from oxidizing further.
Molar mass of Rust Fe2O3 =159.7 g/mol
Rust weighs in around 3x more than bare metal, so that makes this primer one expensive fuel guzzling choice.