Luxembourg supports cosmic mining

Ending resources on the planet make big companies intensify their efforts to start extracting resources from asteroids close to Earth. Overhead is an almost inexhaustible source of all kinds of metals and precious elements, and it is enough to reach for it.

Of course, legal issues need to be settled in the past and this is what Luxembourg has done. A small European state has adopted new legislation on space mining. Companies wishing to extract resources from the asteroid will be able to stop the dredge, provided their missions are previously authorized and comply with international law. New regulations will officially enter into force early next year.

Many European countries have not yet addressed this issue, but Luxembourg is a place where many large corporations have branches because of attractive tax regulations. The provisions introduced there, can greatly facilitate the extraction activities.

The Luxembourg authorities not only introduce new regulations on space mining but also want to attract companies specializing in such ventures. There have already been talks with 20 space companies, including Deep Space Industries and Planetary Resources.