In this study, emulsion and mine water samples were collected from the Daliuta area, and the emulsion composition was analyzed. The typical pollutants in the emulsion were triethanolamine, sodium benzoate, sodium nitrite, and sodium hyponitrotriacetate. Furthermore, migration and transformation studies were conducted with respect to these typical pollutants in the emulsion. When the mine water was passed through the aeration zone of a water accumulation leaching device, the pollutant concentrations considerably decreased, resulting in significant adsorption and migration effects. Subsequently, the adsorption effect was significantly reduced. The adsorption rate of sodium benzoate and sodium hyponitrotriacetate increased with an increase in the emulsion concentration on the 30th day. The adsorption rate of sodium nitrite in 1 L mine water with 20 mL emulsion on the 30th day was 86.4%. The noncarcinogenic health risk assessment and exposure index (EI) model calculations of the simulated mine water containing emulsion revealed that all the hazard quotient (HQ) and EI values of carcinogens were >1. Furthermore, reference pollutant concentrations under the specific conditions of HQ and EI were obtained. These study findings are expected to provide scientific data support for local governments to strengthen geological environment management in mining areas.