There was already an article linked from China Daily by Chris, but this one gives more details: english.caing.com/[...]
The gunge in question is hexavalent chromium, which "is easily absorbed by the body, causing vomiting, abdominal pain, dermatitis and eczema. Short-term and long-term contact or inhalation poses a cancer risk".

"Unemployed farmers Wu and Liu occasionally heard a friend, who drove a loader for Luliang Chemical, say that there was a lot of slag at the factory that needed to be transported out, that the factory paid for the transport, and the slag could then be sold. Wu thought the business could be lucrative, so he took over the business from his friend.
According to Liu's account to public security officials, the two discovered that Luliang Chemical's 100 yuan per ton freight fee was insufficient to cover costs. The two decided simply to dump the slag and pocket the 100 yuan per ton."
Great! A couple of illiterate farmers can just pick up toxic waste and dump it!
The best (scariest) bit is at the end: "We use the Nanpan [river, a major tributary of the Pearl river] to irrigate our crops here. We don't eat them ourselves. We sell them all to people in the city and officials to eat." said a villager named Yuan Chaoqi."

Makes you question your decision to live here really doesn't it?!!

F*ck

I ordered my horse to be brought from the stables. The servant did not understand my orders. So I went to the stables myself, saddled my horse, and mounted. In the distance I heard the sound of a trumpet, and I asked the servant what it meant. He knew nothing and had heard nothing. At the gate he stopped me and asked: "Where is the master going?" "I don't know," I said, "just out of here, just out of here. Out of here, nothing else, it's the only way I can reach my goal." "So you know your goal?" he asked. "Yes," I replied, "I've just told you. Out of here - that's my goal."

The Departure - Franz Kafka

@hedgepig. I nominate this for posting of the month award.