Abstract: The comprehensive evaluation on exploitation and utilization of mineral resources is a complex systematical engineering of incomplete information，and there haven′t been a set of scientific and complete evaluation index and evaluation method till now.On the basis of analysis of exploitation and utilization of mineral resources，the index system from development efficiency，personal efficiency，economic benefits and mine geological environment protection is set up to determine the index weights with a combination of experts grading method and entropy method.According to the characteristics of incomplete information of exploitation and utilization of mineral resources，the evaluation model is built up based on the gray relation analysis.Finally，taking Panxi Vanadium Titanium Magnetite for example，the combination weights of each index are calculated and the exploitation and utilization of Vanadium Titanium Magnetite in Panxi Area is comprehensively evaluated.Then the result was graded according to exploitation and utilization level.The evaluation result showed that the evaluating index and method for exploitation and utilization of mineral resources are reliable and practical.

Key words: Mineral resources, Evaluation of exploitation and utilization, Entropy method, Gray relation analysis