This legislation mandates that federal agencies conduct comprehensive studies to determine the dollar value of mineral resources. Specifically, the Director of the Bureau of Land Management and the Chief of the Forest Service are directed to assess onshore mineral values, while the Director of the Bureau of Ocean Energy Management must evaluate offshore mineral values. All studies are required to be completed within three years of the bill's enactment and can be conducted through contracts with private entities. The studies will focus on determining the dollar value of various minerals, including liquid, gaseous, locatable, leasable, and salable minerals , present in designated federal areas. These assessments will cover co-managed areas and specific national monuments designated after December 31, 1999, as well as areas of critical environmental concern. However, units of the National Park System and national monuments designated as areas of critical environmental concern before January 1, 2000, are explicitly excluded from these valuations. The bill defines specific categories for these assessments, such as " covered onshore areas " which include certain national monuments, areas of critical environmental concern, and lands withdrawn from mining or mineral leasing laws. Similarly, " covered offshore areas " encompass marine national monuments, offshore areas withdrawn from mining or leasing, and those under moratorium. The overall objective is to provide a detailed valuation of these significant natural resources across federal lands and waters.