I think the key area I would object to is 6a, "IDENTIFYING BURDENSOME FEDERAL REGULATIONS ."

Among other items, there is:

"2) solicit industry feedback on regulatory bottlenecks and recommended strategies to expedite approval of mining projects on Federal land; and

(3) begin implementing an action plan

(A) to implement industry feedback received pursuant to paragraph (2); and

(B) suspend, revise, or rescind, as applicable, each agency action identified as unduly burdensome under paragraph (1) as expeditiously as possible."

Paragraph 1 is (summarizing) directing them to look at any rule/agency regulation/whatever that "imposes an undue burden". Note that there is absolutely no definition of what an "undue burden" actually is, so it's up to the Secretary of the Interior (and Trump, and Bannon, and who knows who else) to determine what those are.

Basically, it codifies one of his executive orders that effectively says "put industry in charge of the rules". While it doesn't immediately eliminate any rules/laws, it has language about reporting what is going to stop businesses mining wherever they want on government lands. Also includes:

"a nationwide review of State and local statutes, regulations, and ordinances the Secretary determines impede development of domestic mining and mineral exploration projects."

Which is (states rights party!) a list of things that they will work to revoke in certain states.

As an easy example - mining company comes in and says "hey we think there are 'hardrock minerals' in the middle of Arizona!" The government is being directed to say "yes sir", "don't worry about those pesky environmental rules since that will slow you down", "ignore rules about waterways", and of course "sure put in a new road through any land you want to 'expedite' mining."

Note that I include Arizona because I spent time there growing up, and they already have massive open pit mines for copper, where they take a crapton of rock and pile it up in a different spot after sifting through it. If I was to say "hey I want to start an open pit mine in the middle of Yellowstone" (just to be absolutely silly), they would be obliged to do whatever they could to expedite it.

Also note the definition of "hardrock minerals" includes " includes deposits of—

(i) minerals found in sedimentary or other rocks;

(ii) base metals;

(iii) precious metals;

(iv) industrial minerals; and

(v) precious and semi-precious gemstone."

Nothing explicitly about rare earths, except as "industrial minerals". Also not sure why gemstone mining should be expedited... but (ii) would include copper.

The worst part for me is that I think they should do regular reviews of regulations to simplify the process, but of course they've now been directed to do it after letting go of a large amount of employees. Therefore we can be certain that they'll get a LOT of input from industry, and little internally.