Tag Archives: commercial use of space

US Legislation Grants Companies Mining Rights to Asteroids

US President Barack Obama signed into law legislation that will allow US companies to commercially exploit bodies in space for their natural resources. The law states that “US citizens are entitled to any asteroid resource or space resource obtained, including to possess, own, transport, use and sell the asteroid resource or space resource retained.”

The move by the US is not without its critics. Some say that the law violates the “Outer Space Treaty of 1967” which states in article II: Outer space is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means.”