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The competition heats up: Luxembourg on November 11 announced that it is establishing its own legal framework to protect the profits of any private asteroid mining effort.
Because the UN Outer Space Treaty forbids them from claiming any territory in space, this new law essentially says that Luxembourg law will instead be applied specifically to the resources mined. Or to put it in more colloquial terms, “Finders, Keepers,” though it comes with a lot of complex further regulation required to satisfy that treaty.
The draft law also lays down the regulations for the authorization and the supervision of space resources utilization missions, including both the exploration and use of such resources. Whoever intends to undertake a space resources utilization mission will be required to obtain an authorization to do so, for each specific and determined mission. The text sets forth the necessity for a book of obligations for any mission, such as activities to be carried in or out of Luxembourg, to allow government supervision of the activities of operators and regulating their rights and obligations. The legislation is expected to enter into effect in early 2017.
This complexity will cost money unnecessarily, and also require an unnecessary bureaucracy with a great deal of power over the actions of space companies. It illustrates again how really bad the Outer Space Treaty is, and how it will oppress future spacefarers. The sooner the treaty is dumped the better. If we don’t do it here on Earth, I guarantee that the people of space will do it, as soon as they become self-sufficient enough to thumb their noses at the ground-pounders on the mother planet.