RISK ANALYSIS in Mongolian Central Region Coal Mines

Purpose: The mining industry is a highly risky field where risk factors impact each other much. Mining is the leading branch of the economy of Mongolia. Rural areas in Mongolia isn t well developed and the country s pop-ulation is not crowded mining industry is so risky. And also the risk factors in the Mongolian mining field are highly impacted by each other made me study a detailed and staged method of risk management. Method: To define mining risk factors we studied the classifications of international experts and made a sur-vey among the mining specialists of Mongolia. Then we defined the risks into 8 factors and 31 subfactors. By the survey research, the logical principle of impact factors was defined. After that, we made a systematic analysis of the dependence between the impact factors and their impacting levels. As the result, we found out a staged design of risk analysis. Results: The result of the Risk Matrix risk analysis showed that the central region mines in Mongolia have a high-risk level and they need a detailed risk assessment. While the WSM analysis result says that most mines have got high management risk, DEMATEL analysis results mines have high risks in subfactors such Organiza-tional structure adaptation, Human error failure. Conclusion: The research result shows that this comprehensive risk method is suitable for making detailed risk analysis in companies liable to high risk and has many influencing impacted risk factors. In this paper, we offered a comprehensive risk analysis method and it was also tested to analyze common risks in Mongolian Central Re-gion Coal Mines. The results of applying the proposed method in a real case study demonstrate that it can effec-tively handle risk assessment when implementing risk analysis in a Mining organization.