This study investigates the contamination and ecological risk of heavy metal concentrations in the residential area near the mining waste dump in Graçanica, a municipality in the Pristina District of Kosovo. Graçanica is located near the Kizhnica-Badovc-Hajvalia ore field and has historical significance in mining as part of the larger Trepça mining complex. The Kizhnica Flotation Plant processed lead and zinc ores from nearby mines, depositing its waste materials in tailings in Graçanica. Six soil samples were collected according to standards from areas near the waste dump and residential zones, and analyzed for arsenic (As), lead (Pb), and manganese (Mn) concentrations, as well as pH levels. Chemical analyses were conducted using inductively coupled plasma-atomic emission spectrometry (ICP-OES) equipment. The results showed that As, Pb, and Mn concentrations ranged from 7 to 1127 mg/kg, 69 to 1961 mg/kg, and 479 to 6440 mg/kg, respectively—exceeding the soil contamination limits set by Kosovo’s Administrative Instruction (GRK), as well as permissible limits according to WHO and EU Directives. Moreover, soil pH ranged from 3.95 to 7.73, with acidic conditions potentially enhancing heavy metal mobility. The anthropogenic impact from this tailings dump may have penetrated deep into the natural environment of Graçanica. The increasing accumulation and mobility of heavy metals pose a risk of entering the food chain through water, plants, and animals, raising environmental and public health concerns.