Mining heritage reuse refers to the practice of repurposing former mining sites and their associated structures, landscapes, and communities for new uses, which plays a critical role in the green transformation of countries that are heavily reliant on mining resources. Nonetheless, repurposing closed mining sites comes with its own set of risks. Given these complexities, conducting a comprehensive risk analysis is imperative. Adhering to the PRISMA guidelines, this study established a systematic review for assessing risks in mining heritage reuse. We meticulously screened literature from Web of Science (WoS), Engineer Village (EI), and Wiley, ultimately focusing on 12 pertinent articles. Our findings categorize the repurposing of mining heritage into six distinct sectors: renewable energy, agriculture, residential developments, tourism, forestry, and underground laboratories. Analysis of the extant literature reveals a predominant focus on the environmental and technical aspects of risks, with less attention paid to the social dimensions of risks. A key contribution of this review is the introduction of the Public–Private Partnership (PPP) model and a multi-hazard approach to examining risks associated with mining heritage reuse. Consequently, future research on the risks of repurposing mining heritage is recommended to incorporate assessments of social-level risks and the interplay among various risk factors.