Further progress has been made in the Luxembourg Government's SpaceResources.lu initiative with the presentation of an overall strategy to be implemented progressively for the exploration and commercial utilisation of resources from Near Earth Objects (NEOs).
The appropriate legal and regulatory frameworkfor the utilisation of space resources will be based on the findings of a study conducted by the University of Luxembourg, in cooperation with renowned space law experts in the fields of international space law and policy. The legislation is expected to come into effect in 2017, when it will guarantee operators the right to resources harvested in outer space in accordance with international law and through space resource-dedicate licenses to be issued under the new law.
Government supervision of the activities of operators and regulating their rights and obligation will be ensured by Luxembourg in accordance with the Outer Space Treaty.
"Simultaneously to steps taken on the national level, Luxembourg will strive to promote a legal regulatory framework on the international level supporting investments and growth opportunities for private ventures targeting the utilisation of space resources," commented Luxembourg Prime Minister, Xavier Bettel. "The Grand Duchy aims to participate with other nations in all relevant fora in order to agree on a mutually beneficial international framework."
"Luxembourg will offer an attractive overall framework for space resource utilisation related activities, including but not limited to the legal regime," Deputy Prime Minister and Minister of the Economy, Étienne Schneider, commented. "The government will dedicate funding to R&D in technologies related to space resource utilisation, in line with our ambition to become a European hub for the exploration and use of space resources. Drawing on its success and proven expertise in the commercial satellite services indsutry, Luxembourg once again opts for space as a key high-tech sector for the country."
Minister Schneider further welcomed to Luxembourg the two U.S. companies, Deep Space Industries and Planetary Resources, both of which have established legal entities in the Grand Duchy to build up economic and technological substance. Deep Space Industries signed a Memorandum of Understanding with the Government and the public-law banking institutions Société nationale de crédit et d'investissement", whilst an MoU is also anticipated with Planetary Resources.
"We look forward to working with these exciting ventures, as with any other companies both from Europe and from outside of Europe who establish a presence in Luxembourg, to make the vision of sustainable economic development in the space industry a reality," Étienne Schneider continued.
"The spaceresources.lu initiative is timely, and will epitomise innovation, cooperation as well as competition, while being attractive to entrepreneurs and investors far beyond Europe and the traditional space industry," commented Jean-Jacques Dordain, former Director General of the European Space Agency (ESA) and now high-level advisor to the initiative.
Longstanding Director of NASA-Ames Research Center in California, Dr. Simon "Pete" Worden, whom along with Georges Schmit, Consul General and Executive Director at the Luxembourg Trade & Investment Office in San Francisco, was recently announced to have joined the project as a high-level advisor, concluded: "Perhaps the most important aspect of Luxembourg’s spaceresources.lu initiative is the excitement it is generating across the world – particularly young scientists, engineers and entrepreneurs. Everywhere I go I hear young people ask about these ideas. Recently, entrepreneurs from Poland, Germany, Austria, Italy, Colombia and Mexico contacted me to ask how they can get involved. I come from Silicon Valley – but I’m convinced that the Silicon Valley for space resources – and gateway to an unlimited future of resources for humanity, will be here in Luxembourg."
Photo by spaceresources.lu
