Federal Land Mining Act

Federal Land Mining Act - Title I: Short Title, Policy, Definitions - Declares it the policy of this Act to encourage utilization of the mineral resources of federally-owned lands in a manner consistent with environmental objectives, and to preserve the traditional role of the small miner in the development of American mineral deposits.

Title II: General Provisions - Directs the Secretary of the Interior to prepare and maintain inventories of Federally-owned mineral deposits. Directs the Secretary to submit a ten-year program for mineral surveys of Federal lands to the Congress.

Establishes procedures governing the authorizations for prospecting, exploration, and development of Federally-owned mineral deposits. Imposes civil and criminal penalties for failure to comply with applicable rules and regulations promulgated by the Secretary of the Interior.

Requires the Secretary to authorize use of Federal lands and disposal of federally-owned mineral deposits only at fair market value. Directs the Secretary to establish environmental and conservation procedures applicable to the utilization of Federal mineral deposits.

Directs the Secretary, in consultation with the Attorney General, to establish procedures for eliminating or preventing acquisitions of federally owned land and mineral deposits which could lead to a restraint of trade.

Empowers the Secretary to temporarily suspend mining operations where necessary to promote conservation or protection of the environment.

Authorizes the Secretary to waive or modify rental or royalty requirements where necessary to promote mineral development.

Title III: Disposal of Mineral Deposits - Directs the Secretary of the Interior to establish standards and criteria designed to enhance opportunities for small miners. Directs the Secretary to establish a registry of qualified small miners. Allows small miners to engage in prospecting operations on designated Federal lands without permits.

Establishes procedures governing the sale of minerals and the issuance of prospecting leases, exploration leases, and development leases by the Secretary. Lists terms and conditions to be included in such leases.

Title IV: Pending Mining Claims, Disposition of Revenues - Stipulates that holders of valid mining claims under pre-existing law shall have the option of applying for patent rights or obtaining a development lease under this Act.

Requires that 50 percent of all revenues received from Federal mineral leasing activities be paid by the Secretary of the Treasury to the affected States. Stipulates that the remainder of such revenues shall be deposited into the Treasury as miscellaneous receipts.

Authorizes the Secretary of the Interior to make loans to States and localities to alleviate economic or social impacts caused by mineral development and leasing activities under this Act.

Title V: Effect on Existing Law - Repeals prior mining laws, subject to valid existing rights and obligations.

Amends the Federal Land Policy and Management Act of 1976 to increase to maximum amount of acreage of tracts of land which may be exempted from land use planning requirements by the Secretary of the Interior without Congressional review.

Stipulates that the provisions of this Act shall be deemed to supersede all provisions enactments relating to the disposal of minerals in Federal lands.