Slope stability in open pit mining industry is one of the important issues at this time given that most mining companies in Indonesia to increase production. As a result, the mining companies to do the widening and deepening of the excavation. Increasingly wide and deep open pit excavation is done, then of course the greater the risk that would arise, or the increasing uncertainty in the factors that influence the stability of open pit slopes. The factors that lead to the risk of slope kelongsoran include physical and mechanical rock properties, groundwater conditions, rock mass characterization, as well as the existing structure on the rocks. This paper described risk approach of slope failure based on probability of failure (PoF) and the consequences on a case study mineral X in Indonesia. PoF is determined from input parameters and FoS distribution, while the consequences is based on the results of field observations. Certainly the results of this approach can provide a decision on the slope stability conditions, thereby reducing the greater effect of risk of slope failure.