Abstract: After analyzing the connotation of mineral resources and value, the concept of mineral resource value was clarified. Mineral resource value is the general labor included in undeveloped minerals. This article advanced the concept of mineral product value for the first time, and pointed out that mineral resource value is only a part of materialized labor in mineral product value. It is cognition labor and explorations labor that decide the mineral resource value but not the other factors. Labor is the only head spring of the mineral resource value. The distribution of mineral resource value should be decided by the right proportion of social production.