Lithium-ion battery technologies, especially battery electric vehicles (BEVs) have the potential to replace diesel engines in underground mine operations. The corresponding elimination of diesel emissions and reduction in heat emitted substantially decrease the ventilation system load, which, in turn, reduces power consumption. However, employing BEVs in underground mines introduces fire risks. Specifically, thermal runaway, in which battery temperatures can rapidly exceed 1000°C owing to exothermic reactions, and significant amounts of toxic and flammable gases contribute to the hazards. To evaluate these hazards, this study analyzes mine fire accidents in U.S. underground mines over the past ten years, quantifies the associated risks, and determines the severity and probability of the events using a risk and decision analysis methodology.