Right you are, Mick.
There's one site where I frequently do excavation that's a slag dump.
My understanding is that when they scrape the molten slag off the top of ladelfuls of molten steel, it falls into a pit, where they use heavy equipment to load it out. Sometimes they get a little steel mixed in with it, hence the name, Pit Scrap.
It usually doesn't pay too well (sometimes as bad as, "You can dump it if you want, but we're not paying for it"), but it's heavy enough that even when it gets to a few bucks/hundred the weight adds up and makes the trip worthwhile.
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