Hazard identification, risk assessment and management are of great significance for the safe and efficient production of industrial system. However, due to the lack of quantitative methods, the production of industrial systems still lacks safety guarantees. Firstly, we revise the accident causation model of mining industry based on the “Swiss-Cheese” model and construct a three-dimensional multi-granular structure model applied to the mining industry. To identify hazards of mining industry, a multi-layer hierarchical structure model and a system safety assessment model are established according to finite covering theorem. Then, the hazard identification is carried out based on the multi-layer hierarchical model and the risk matrix method, and a quantitative method is proposed to calculate the process indicators. Subsequently, the weighted grey relational analysis method is used for risk assessment on the driving system in mining industry. To improve the safety level of the driving system, the Hazard Identification-Assessment-Check-Action risk closed-loop management mode is used for risk management in the purpose of obtaining hazard rectification measures. Risk assessment is carried out again after risk rectification, and the safety level of the driving system can reach higher level. This research can provide guidance for the process safety improvement of industrial systems.