The production cost controlling of ore have an impor-tant influence on the economic benefit of the mine,thus the analysis on the main influencing factors of ore cost is important. As the influencing factors always have high multicollinearity which make the studied results less reliable,so a partial least square regression model for the analysis on the production cost of open-pit iron mines was built. The model is of better interpreting ability. Finally,based on results of analysis some countermeasures and advices were brought forward.