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Space mining gets a boost from tiny Luxembourg

NASA/JPL-Caltech/UCAL/MPS/DLR/IDA

Space mining gets a boost from tiny Luxembourg

Asteroids and other space bodies could harbor metals, like platinum, that are rare on Earth. This has some companies scrambling to take mining to space—and now the tiny European country of Luxembourg wants to get in on the action, BBC reports. Luxembourg’s economic minister says the grand duchy will soon give corporations the legal right to exploit resources in space, similar to moves made last year by the U.S. Congress. And—despite the astronomical costs of space mining—the country’s national investment bank may even fund “relevant” private R&D projects, the minister says. He adds that the situation is “equivalent to the rights of a trawler in international waters. Fishermen own the fish they catch but they do not own the ocean.” 

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