Luxembourg passes space mining law

By Dale Benton
Space mining just took another major step towards becoming a reality. Luxembourg has just announced that it has passed a law, with near unanimity, reco...

Space mining just took another major step towards becoming a reality.

Luxembourg has just announced that it has passed a law, with near unanimity, recognising the right to space-based resources that they have extracted.

Luxembourg is fast becoming a global hub for space resource mining and the passing of this law proves that. The law advances the progress Luxembourg has made on national and global policy with a foundational national-level legal regime, which will support public and private sector space resources initiatives over the coming decades.

“The Government of Luxembourg has taken constructive steps to support the space resources industry with the creation of a positive policy climate for space mining companies including the establishment of the Spaceresources.Lu initiative and the appointment of a Special Envoy for Space Resources, Mr. Georges Schmit, who is also a member of our Board of Directors,” said Chris Lewicki, President and CEO of Planetary Resources. “Luxembourg continues to be a strong partner and a global leader. They are genuinely forward thinking, have a proven record in the satellite industry, and are making their mark on the space mining industry. The passage of this law today is further proof of that.”

Peter Marquez, Acting General Manager of Planetary Resources Luxembourg, said, “Luxembourg’s new space resources law provides Planetary Resources with a strong basis for stability and predictability for our current and future asteroid mining operations. We are appreciative that Luxembourg has taken this critical step towards the long-term sustainability of asteroid mining.”

Related stories:

 

Mining Global is no stranger to asteroid mining. In a previous issue we spoke with Deep Space Industries, a Huston based company that specialises in building and operating cutting edge spacecraft.

“We’ve spent the last couple of years getting all our ducks in a row and getting the science and engineering right. At this moment in DSI’s history, when we are really coming out for the first time – we’ve got a very solid plan in place.”

Through a partnership with the Luxembourg Government’s spaceresources.lu initiative and the Société Nationale de Crédit et d’Investissement (SNCI), the national banking institution in Luxembourg, DSI will receive funding for the development of the spacecraft technology.

“With the partnership with Luxembourg, it has really allowed us to actually start implementing the technology that we have been working on for some time now,” said Meagan.

 

Share

Featured Articles

Rio Tinto, not Anglo American, 'is BHP's Real Target'

As Anglo American restructures in face of takeover bid, experts believe BHP's real target is Rio Tinto, the world's second largest metals & minerals miner

Anglo American Rejects Latest BHP Bid for Copper Supremacy

As Anglo American rebuffs BHP Group's $42bn takeover bid we profile the huge Anglo-owned copper mines that BHP has in its sights

Investing in America Boost for US Critical Minerals Mining

Critical minerals mining and extraction activities in the US now fall under President Biden’s Investing in America agenda and are eligible for funding

Australia Looks to Loosen China's Grip on Critical Minerals

Supply Chain & Operations

EY: Silver Miners' Sustainability & Supply Challenge

Smart Mining

Caterpillar: Profile of a Mining Equipment Colossus

Machinery