Accidents and injuries related to work are major occupational health problems in most of the industrialized countries.Traditional approaches to manage workplace safety in mines have mainly focused on job redesign and technical aspects of engineering systems.It is being realized that compliance to rules and regulations of mines is a prerequisite; however, it is not sufficient to achieve further reduction in accident and injury rates in mines.Proactive approaches are necessary to further improve the safety standards in mines.Unsafe conditions and practices in mines lead to a number of accidents, which in turn may cause loss and injury to human lives, damages to property, and loss of production.Hazard identification and risk assessment is an important task for the mining industry which needs to consider all the risk factors at workplaces.Applications of risk management approaches in mines are necessary to identify and quantify potential hazards and to suggest effective solutions.In this paper, the following risk estimation techniques were discussed: (ⅰ) DGMS (Directorate General of Mines Safety, India) risk rating criterion, and (ⅱ) a matrix based approach.The proposed tools were demonstrated through an application in an opencast coal mine in India.It was inferred that the risk assessment approach can be used as an effective tool to indentify and control hazards in mines.