Mineral Development Act

[AI summary unavailable — showing source text] Mineral Development Act - Title I: Purpose - Declares it the purpose of this Act to establish a system to provide for and encourage the development of certain mineral resources on United States public lands. Defines the terms used in this Act. Title II: Existing Mining Claims and Mill Sites - Stipulates that unpatented mining claims or mill or tunnel sites located prior to the effective date of this Act shall become null and void unless patent applications have been filed within five years after the approval of this Act. Details criteria governing entitlement to mineral and mill site patents. Title III: Provisions for New Claims - Repeals prior mining laws. Establishes procedures governing the filing and validity of new mining claims. Imposes minimum labor requirements to maintain such claims. Authorizes annual payments to the United States in lieu of actual labor to maintain claims. Details eligibility criteria and procedures for obtaining patents for valuable mineral deposits. Requires the payment of a royalty for minerals extracted from claims pursuant to this title at the rate of two percent of the mine value of such minerals. Stipulates that nothing in this Act shall exempt ow…