The aim of this paper is to present a chemical composition and quantities of mining and processing waste landfills material developed during historical mining and smelting. After detailed inspection, it was found that approximately 2.6 gigatons of the waste had been deposited at 1650 sites, covering almost 65 km². More than half of this material, 55%, is characterized as conventional mining waste, 37% belongs to the processing tailings, and 8% to metallurgical waste. Most of these tailing sites are unclaimed, presenting a source of contamination for nearby communities. According to the literature data collected and additional chemical analyses, in accordance with zero-waste philosophy, about 42 promising locations (c. 270 million tons) could be selected, where various advanced eco-innovative methods of recovery could possibly apply. The areas with the highest prospective recovery are Serbia and Kosovo. In accordance with the metal prices achieved in March 2022, it is estimated that the recovery of tailings could bring up to 18,100 million USD, which is much more compared to the prices of March 2020—10,600 million USD—when the commodity market was governed by the COVID-19 restrictions. In addition to the commercial value of the metals, the environmental aspect should not be forgotten after the application of reuse and recycling concepts.