The law on space resources was passed on 13 July at the Chambre des Députés du Luxembourg (Luxembourg Chamber of Deputies), obtaining a large majority with 55 votes in favour. It will thus come into force on 1st August 2017. 'This large majority, with backing from all the different parties, means there is significant political support for the SpaceResources.lu initiative, and it sends a strong signal to companies and investors operating in this sector.' explained the Luxembourg Minister of the Economy.
A law for better management
Luxembourg is thus the first European country to implement legislation giving private operators assurances regarding the ownership of the resources that they extract in space.
This law secures the right of private operators working in the space sector to resources extracted in space. It also regulates the approval and surveillance of missions to explore and use space resources.
This legal framework is one of the main pillars of the strategy adopted by the government as part of the SpaceResources.lu initiative to develop the space exploration sector and the use of space resources.
Deputy Prime Minister and Minister of the Economy Étienne Schneidercommented: 'As the first country in Europe to establish a legal framework for activities related to the use of space resources, Luxembourg confirms its position as a European pioneer and leader in this sector with strong development potential.'
(Source: press release from the Ministry of the Economy)