US SB2860

Requires the Secretary of Commerce (within 60 days) to expedite review and issuance of exploration licenses and commercial recovery permits for deep seabed hard mineral resources, and requires the Secretary of the Interior to establish expedited permitting for prospecting and leasing on the outer Continental Shelf

Directs development of a seabed mapping plan within 60 days to identify priority areas with abundant critical mineral resources, including polymetallic nodules, cobalt-rich crusts, polymetallic sulfides, and heavy mineral sands containing nickel, cobalt, copper, manganese, titanium, and rare earth elements

Mandates identification of critical minerals derivable from seabed resources and determination of which minerals are essential for defense, manufacturing, and energy applications, in coordination with the Secretaries of Defense and Energy

Requires engagement with key foreign partners and allies within 60 days to pursue scientific collaboration and commercial development opportunities for U.S. companies in seabed mineral exploration, extraction, and processing within allied nations' exclusive economic zones

Orders two congressional reports within 60 days: one identifying private sector interest in seabed mineral development opportunities, and another assessing feasibility of an international benefit-sharing mechanism for extraction in areas beyond national jurisdiction