Northern Nevada Rural Economic Development and Land Consolidation Act of 2003

Northern Nevada Rural Economic Development and Land Consolidation Act of 2003 - Directs the Secretary of the Interior, upon the submission of the relevant application or applications by the Placer Dome U.S. Inc., Denver, Co., and Graymont Western U.S. Inc., Murray, Utah (together the Claimant), to sell the Claimant whatever portion is requested of certain public lands subject to mining operations in Eureka, Lander, White Pine, Elko, and Humboldt Counties, Nevada. Directs that the sale of the lands be at market price. States that the value of locatable minerals in such lands shall not be considered or included in the market value of the lands.

Subjects all public lands conveyed under this Act to a royalty payable to the United States on locatable minerals, except for lands subject to unpatented mining claims for which the Claimant demonstrates the discovery of a valuable mineral deposit. Directs the Secretary to accept from the Claimant a conveyance of any of certain specified private lands in northern Nevada, with the Claimant to receive a credit equal to the market value of each such transferred property.

Subjects all lands conveyed under this Act to valid existing rights.

Directs that the proceeds from the sales of the lands be used: (1) to support the State's general education program; (2) to support a trust fund for the California Trail Interpretative Center in Elko County; (3) for the rehabilitation of lands in Nevada that were subject to historic mining activities; and (4) for the reimbursement of costs incurred by the Nevada State Office and relevant Field Offices of the Bureau of Land Management in conducting the sales.