Groundwater contamination was studied at several hotspot sites in the Majdanpek copper mining area (Serbia). These sites include a milling facility, a metallurgical wastewater treatment plant, a heavy vehicle service area, and a waste disposal site. In addition to Cu, high concentrations of As and heavy metals (Cd and Pb) were detected in groundwater and soil at the same sampling points. Mining operations and heavy vehicle transport activities have been identified as the main sources of pollution. The migration of metals from soil to groundwater, expressed as a concentration ratio, were the highest for Co and the lowest for Mn. The environmental implications of groundwater pollution were studied using the heavy metal pollution index (HPI), Nemerov pollution index (NPI), hazard index (HI), and incremental lifetime cancer risk (ILCR). HPI and NPI show the high potential of groundwater to have adverse environmental effects. HPI ranges in the following descending order of metals: Cd > Pb > As > Mn > Ni > Cr > Hg > Cu > Zn. NPI exceeds the threshold of 0.7 in 66.7% of the samples. Potential human exposure to the studied groundwater may cause severe health problems in adults, with HI ranging from 0.61 to 5.45 and ILCR from 1.72 × 10−4 to 1.27 × 10−3. Children were more susceptible to non-carcinogenic risk than adults, with HI ranging from 0.95 to 8.27. However, the results indicated that children were less prone to carcinogenic risks, with ILCR ranging from 5.35 × 10−5 to 3.98 × 10−4. Arsenic is the most contributing element to both risks. This research imposes the need for enhanced groundwater monitoring at hotspots in the mining area and the adoption of remediation plans and measures.