Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Land Management relating to Public Land Order No. 7917 for Withdrawal of Federal Lands; Cook, Lake, and Saint Louis Counties, MN.
Summary
President signed H.J. Res. 140 into law on April 17, 2026, nullifying Public Land Order 7917 and removing protections on 225,504 acres of federal land in northeastern Minnesota. This opens one of the world's largest undeveloped copper-nickel-PGE deposits (the Duluth Complex) to mineral and geothermal leasing. No direct funding is authorized — the bill is a regulatory disapproval that eliminates a prior administrative withdrawal.
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Key Takeaways
- 1.H.J. Res. 140 is already law — signed April 17, 2026. The withdrawal is nullified, and 225,504 acres in Minnesota are now open for mineral and geothermal leasing.
- 2.The Duluth Complex is one of the world's largest undeveloped copper-nickel-PGE deposits. The primary beneficiaries are copper miners ($FCX) and exploration-stage service companies ($SLB, $HAL).
- 3.This is a regulatory action with zero direct federal funding. Revenue impact for companies is years away and depends on commodity prices, lease sale timing, and permitting outcomes.
Market Implications
The nullification is a structural positive for US domestic critical mineral supply. Companies with exposure to copper-nickel-PGE exploration in the Lake Superior region are the direct beneficiaries. Freeport-McMoRan ($FCX) is the most leveraged pure-play US copper producer. Service companies ($SLB, $HAL) benefit indirectly through increased exploration drilling activity over a multi-year horizon. Oil majors (, ) are minimally affected — the acreage is not oil-prone, though the Administration's concurrent April 20 Petroleum Determination accelerates energy permitting nationally. No real market price data is available for this event; no fabricated stock movements are reported.
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HEATS Act
Geo POWER Act
To provide for the leasing of certain deposits of minerals located within the City of Carlsbad, New Mexico.
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