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The paper analyzes the most important groups of risks in the mining project. Risks have been identified and quantified by relevance and impact using the AHP method. After that, the ranking of the most important phases of the mining project from the aspect of risk was performed. Ranking is done by PROMETHEE multi-criteria decision making method. Here, the results obtained by the AHP method are used to rank the mining project phases, where the risks were used as the criteria and their coefficients as weight coefficients for ranking.