Mine waste dump material has no economic value to the industry. Therefore, the mine waste is dumped, forming slopes. Mine waste dump slopes obtain 30% to 50% of the mining area. To reduce the land occupancy of these slopes, they are created with high altitudes. Hence, they are susceptible to failure. Slope stability analysis is a major aspect of geotechnical engineering. Slope stability analyses are mostly done with assumptions on the geometry. This is avoided in this paper with the usage of UAVs. The 3D model is created from UAV imagery of a coal mine in Raniganj coalfield, India. The model is fine‐tuned with the DGPS survey. Geotechnical data were collected and tested in the laboratory for various numerical analyses. An active mine waste dump slope is analyzed for slope failure. Earthquakes and rainfall cannot be controlled, and their effects on the stability of the mine waste dump slope were examined. The study extracted various factor of safety (FOS) analyses on static, seismic, and rainfall conditions. The seismic condition simulates a condition of the slope to be failed with low (0.948) FOS. However, rainfall condition predicts the slope to be more stable. The deformation pattern and magnitude of the slope failure are also discussed.