This study investigated typical enterprises engaged in the integrated beneficiation and smelting of monazite, with a focus on characterizing the behavior of thorium-232 throughout the production chain. Through systematic analysis of activity concentrations in various raw materials and products from different manufacturers, the pathways and final distribution of thorium-232 across the entire technological process were traced. Workplace monitoring of thoron concentrations was carried out to assess inhalation hazards, collectively revealing the distinct migration and enrichment patterns of thorium-232 and its associated radiological exposure risks. Through the analysis of the chemical composition in monazite ore, it is found that the REO content is the key factor influencing the activity concentration of thorium-232. The monazite dressing process primarily involves stages such as shaking table gravity separation, drying, and electromagnetic separation, while the smelting process includes magnetic separation, alkali decomposition, and hydrochloric acid preferential dissolution. Thorium-232 exhibits a pronounced tendency for selective enrichment within these sequences. Comprehensive data on chemical composition and radionuclide activity from multiple enterprises in Hainan Province demonstrate that about 92.15% of thorium-232 is concentrated into the monazite product during electromagnetic separation. Further analysis based on material chemistry and activity measurements from a smelting enterprise in Hunan Province indicates that about 96.56% of the thorium-232 is subsequently transferred and further enriched in the residue generated from the hydrochloric acid preferential dissolution stage. It is noteworthy that emissions of thorium-232 in waste gases and process waters throughout both dressing and smelting operations are negligible relative to the total inventory.