Slag is a partially vitreous by-product of smelting ore to separate the metal fraction from the unwanted fraction. It can usually be considered to be a mixture of metal oxides and silicon dioxide. However, slags can contain metal sulfides (see also matte) and metal atoms in the elemental form. While slags are generally used as a waste removal mechanism in metal smelting, they can also serve other purposes, such as assisting in the temperature control of the smelting; and also minimizing any re-oxidation of the final liquid metal product before the molten metal is removed from the furnace and used to make solid metal. [wikipedia 2012.02.28]This definition of slag is similar to CRT cullet from recycling operations. There's a big difference, however, in how the two are regulated. Where you would like to think that regulation promotes recycling over mining of virgin mountains, the opposite is true.
Mining and smelting has defended the practice of piling up used slag from foundries in massive piles all over the Western USA, Canada and Mexico. It was debated whether these piles had to be disposed, in landfills, or whether they were really doing no harm in the desert and (as the capitalist model goes), that smelters would come back for it to mine it again when:
A) the veins of lead in mountains (second to silica, the most abundant element in slag) became more expensive to mine, and the slag would become more attractive, and/or
B) technology which already worked in the lab would be economical enough to turn the slag into a commodity.
The mines get bigger and bigger and the slag piles got bigger and bigger. How does the regulation of recycled "slag", or by-product, compare?