This bill authorizes the Secretary of the Interior to lease deposits of certain minerals located within the City of Carlsbad, New Mexico. It specifically allows for mineral leasing on federal lands, including acquired lands, within the city limits, overriding existing federal statutory exclusions that typically prohibit such activities in incorporated cities. The legislation stipulates that any such leasing must be conducted in accordance with the Mineral Leasing Act or the Mineral Leasing Act for Acquired Lands, as applicable, and other relevant federal mineral leasing laws. Crucially, the Secretary's authority to lease these deposits is contingent upon receiving written consent from the City of Carlsbad itself, ensuring local approval for these activities.