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Luxembourg government agrees on draft space resources legislation
The government has adopted a draft law designed to provide a regulatory framework for companies seeking to extract resources in space, which will make Luxembourg the first European country to offer legal certainty over the ownership of minerals, water and other resources extracted from asteroids or other near-earth objects. According to economy minister Etienne Schneider, the new legislation demonstrates Luxembourg's commitment to becoming a European hub for the exploration and exploitation of space resources. He says the government is in talks with around 20 companies and entrepreneurs about basing themselves in the country under the SpaceResources.lu initiative launched earlier this year.
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