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Luxembourg to be the first European country to guarantee mineral ownership rights in space

Published Wednesday June 07 2017

The Grand Duchy is expected to join the US in offering a legal framework allowing companies to exploit the 'off planet economy'. The next big step in space will indeed be the extraction of minerals from near earth objects, like asteroids. Luxembourg is set to take a big leap towards becoming the first European country to guarantee mineral ownership rights in space. This development entails that Luxembourg becomes a preferred location for space related business. Recently, the US based 'Planetary Resources' and Japan based 'Lunar Robotic Exploration' decided to establish their headquarter for European operations in the Grand-duchy. Another US company that has chosen to locate its European operations in Luxembourg is Deep Space Industries, which is developing a test spacecraft, Prospector X. About two dozen space exploration companies have already made that choice. Read article

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