There may be more than 300 bills waiting for Senate action, but asteroid mining companies are pretty happy that the Senate passed Title IV of S.1297, also referred to as the U.S. Commercial Space Launch Competitive Act of 2015.
The new law states that any resource taken from an asteroid becomes the property of the company that mined it, an extension of pre-existing outer space law.
According to Deep Space Industries (DSI), the legislation significantly advances the cause of opening space resources for humanity. It also promotes the right of U.S. citizens to engage in commercial exploration for space resources in accordance with international obligations.“We are pleased to see the beginnings of legal clarity in the field of space resource utilization,” said Rick Tumlinson, Chair of Deep Space Industries, in a press release. “This bill is a historic step forward and demonstrates that Congress can effectively and quickly pass legislation that is important to the country’s economic future. The hard-working legislators and their staff on Capitol Hill are to be commended.”
However, some legal questions over the property rights of other countries still remain, as does the skepticism over whether asteroid mining is actually an achievable possibility.
DSI, though, feels that the legislation establishes the necessary legal foundation for the space mining frontier.
“This is a very thoughtfully worded piece of legislation that is sensitive to the existing Outer Space Treaty,” said Daniel Faber, DSI CEO, in the press release, “and yet moves the ball far forward in terms of giving companies like DSI the legal certainty we need to invest in capitally intensive missions and equipment.”
Space mining is not just good for the company, DSI believes, but will also benefit the nation as a whole.
“It is good for the country, and it is good for all mankind,” continued Tumlinson. “We encourage other nations to support similar legislation, enabling the space resource utilization industry to build a robust space economy and a better future for all citizens of the world.”
