Luxembourg the first European country to pass space mining law
The government of Luxembourg is moving forward with an ambitious plan to profit from asteroid mining by passing Thursday a law that defines the conditions companies must fulfill to obtain a licence for launching a space mining mission Mining News reports.
The bill, approved by a vast majority (55 votes against only two), makes the tiny nation the first European country to offer a legal framework ensuring private capitals their rights over resources they mine in space, the government said.
The legislation, over 18 months in the works, is part of Luxembourg’s SpaceResources.lu initiative, which goal is to boost exploration and the commercial utilization of resources from near earth objects, such as asteroids.
