Directs the Secretary of the Interior, acting through the Minerals Management Service, to conduct and report to Congress on: (1) an assessment of all available domestic technological capabilities required for the location and the efficient and environmentally sound recovery of minerals, other than oil and natural gas, from the shallow and deep seabed of the United States; (2) a survey of the shallow and deep seabed of the United States to identify sites for the recovery of such minerals; and (3) an economic feasibility study on the recovery of such minerals.
Defines "shallow and deep seabed of the United States" as areas of the seabed contiguous to and within 200 miles of the territorial sea of the United States and the resources of which are subject to its jurisdiction or control. Includes in that definition such areas that are contiguous to and within 200 miles of the territorial sea around any inhabited and uninhabited territory or possession of the United States, including American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, Puerto Rico, the Virgin Islands, Midway Islands, the Federated States of Micronesia, Palau, Marshall Islands, Midway Islands, Wake Island, Johnston Atoll, Baker, Howland, and Jarvis Islands, Kingman Reef, Navassa Island, Serranilla Bank, Bajo Nuevo Bank, and Palmyra Atoll.