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US senate votes to legalize space mining

LNM Radio Network

LNM Radio Network

A new bill has been approved that will make it possible for companies to mine resources from asteroids.
Until very recently space mining had always been regarded as a bit of a legal gray area – not least because existing laws make it impossible for anyone to claim ownership over anything in space.

To combat this, the US senate has voted to approve a new bill called the ‘U.S. Commercial Space Launch Competitiveness Act’ which, among other things, will make it commercially viable for a company to mine asteroids and profit from the materials that they manage to obtain from them.

“This bill provides the boost America’s private space partners need as they lead the world into the future,” said Texas Representative Lamar Smith.