New Law Lets Companies Own Parts of Asteroids

DATE: 15/11/2016
AUTHOR: JELOR GALLEGO
SOURCE: FUTURISM


Innovation Through Law

Luxembourg is a country that has been pursuing an aggressive policy in space mining, doing everything to attract businesses willing to work on mining asteroids. Now, it has passed a new milestone, adopting a draft law regarding ownership of mined space resources.

The draft law, which will be in effect in early 2017, gives private companies ownership of the materials they mine from space. It is the first European country to give certainty to ownership, further cementing Luxembourg as Europe’s space mining hub.

The law sets the regulations that have to be passed in order for companies to engage in space mining. They will have to ask for authorization from the Luxembourg government, detailing each specific mission.


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