The bill aims to establish the U.S. as a leading producer of hardrock minerals, creating jobs and prosperity. It requires analysis of economic impacts from mineral reliance, identifies priority mining projects, and potential mineral production on federal land. The bill also calls for a regulatory review to identify burdensome regulations and accelerate geologic mapping efforts. Important terms defined in the bill include 'hardrock mineral,' 'mining project,' and 'public lands.' It prioritizes expedited approval and production of minerals on Federal land.