The law which is set to come into being at the start of next month states that space resources can be owned and establishes procedures for authorising and supervising space exploration missions. The move is part of Luxembourg’s wider ambitions withint its SpaceResources.lu inititative designed to support the long-term economic development of new activities in the space industry with the Grand Duchy already supporting R&D into space mining industry projects with bodies which have selected Luxembourg for their European headquarters.

First adopter in Europe

Deputy Prime Minister, Minister of the Economy Étienne Schneider said: ‘Luxembourg is the first adopter in Europe of a legal and regulatory framework recognizing that space resources are capable of being owned by private companies. The Grand Duchy thus reinforces its position as a European hub for the exploration and use of space resources.’

'Innovation-nurturing environment'

He added: ‘The legal framework is part of the expertise ecosystem and the business-friendly, innovation-nurturing environment that Luxembourg is offering to space industry companies. By adopting almost unanimously the respective draft law, the Luxembourg Parliament confirmed the strong political cross-party and national commitment to the SpaceResources.lu initiative.’

European Space Agency joint statement

Recently Luxembourg signed a joint statement on future activities concerning missions to the asteroids, related technologies and space resources exploration and utilisation with the European Space Agency (ESA).