Unprecedented floods in 2014 caused huge consequences on Serbian lignite
opencast mines, such as halt of coal production and damages of the mining
equipment. Three equipment revitalization options were urgently assessed to
continue with coal production on opencast mine Tamnava-West Field. This
paper compares the economic risks of the three investment options for
lignite mine Tamnava-West Field mining equipment revitalization, based on
this experience and probable risk of a repeated event. The results of the
detailed quantitative risk analysis should verify the urgent decision and
ranked with a multiple-criteria decision analysis.