Luxembourg to protect future space mining resources

‘Luxembourg has adopted draft legislation granting private space mining companies rights towards extraterrestrial resources which they may extract in the future.
“The legal framework we put in place is perfectly in line with the Outer Space Treaty, meaning that our law does not suggest to either establish or imply in any way sovereignty over a territory or over a celestial body,” said Luxembourger Economy Minister Etienne Schneider in a recently released statement.
The move makes Luxembourg the first European nation to offer legal assurance towards the ownership of minerals, water and other resources collected in space-for example on asteroids which experts claim have high density of precious metals such as platinum or rare earths.’
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