Arsenic contamination poses significant challenges to environmental and public health, with mining activities contributing to its wider distribution. This study investigates the fate of arsenic and iron in mine waters at a decommissioned tin mine, now a visitor mine, located in Ehrenfriedersdorf, Germany, situated in the Free State of Saxony. Despite the general shortage of data, which is common for old mining sites, we explored the complex interplay of climatic conditions, hydrological processes, and arsenic and iron behavior in the mine waters through a comprehensive approach encompassing general site characterization, mine water monitoring, and analysis of local weather data. Over a period of three years, we conducted 14 sampling campaigns, collecting a total of 95 water samples, each consisting of three filtration subsamples, resulting in the analysis of 285 water samples. These samples were collected both aboveground and underground. Aboveground samples included mine outflows, a tailing outflow, and an adjacent creek, while underground sampling points were scattered throughout the mine initially and later focused on the identified “main” mine water system. The chemical data from the analyses were correlated with local climatic water balances to reveal distinctive patterns in arsenic and iron concentrations at various locations within the mine system. Our findings shed light on the hydrological behavior of the mine, helping to elucidate the impact of precipitation and potential evapotranspiration on arsenic and iron concentrations in a tailing outflow, in the flooded mine body, and at the portal of the main dewatering gallery. Our findings emphasize the importance of sustained monitoring and the utilization of local weather data to comprehend metalloid and metal contamination risks in similar mining environments.