"Draft law giving private operators working in space confidence about their rights to the extraterrestrial resources."

Luxembourg has a draft on galactic law

#Space

Sun, Nov 13th, 2016 11:00 by capnasty NEWS

According to DW, the government of Luxembourg is the first nation to adopt a draft law that gives "legal certainty" to space operators as to ownership of any "extraterrestrial resources they may extract in the future." With Google's DeepMind beginning to understand physics and faster and cheaper spaceships, we might see an unprecedented shift to space travel in our lifetime.

Luxembourg thus became the first European nation to provide legal certainty as to the ownership of minerals, water and other space resources identified in particular on various asteroids.

"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," Economy Minister Etienne Schneider said in a press release.

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