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In November , a historic step was taken toward opening up the reaches of the solar system and beyond for humanity when President Obama signed the Commercial Space Launch Competitiveness Act. Under Title IV of the law, and for the first time in history, U. These rights, in accordance with international law and treaties, were set to encourage the development of a space resource industry that will take the necessary risks to find, extract, and use space resources in the larger effort of developing a space economy and infrastructure as humanity expands its reach into the solar system. The requirements under Title IV take the legal steps to lay down the initial framework for exploring and utilizing space resources, including asteroids. The law requires the U. It also requires the president to send a report to congress by the summer of that specifies the authorities to meet international obligations and recommend the allocation of responsibilities among federal agencies to meet these obligations. Most importantly, it grants the right of U. Unfortunately, there has been some misunderstanding in the international community regarding the legality of Title IV. It is abundantly clear that no international space law or treaty explicitly prohibits the commercial use and extraction of space resources. Title IV was drafted to further clarify such rights, on a national level, for U. In fact, it is indisputable under international law that any nation, which is a party to the Outer Space Treaty, has the right as a sovereign nation to interpret and implement its treaty rights on a national level. Establishing a domestic regulatory framework, such as Title IV, is not only the right of each nation that is a party to the treaty, but is actually required in order to comply with international law. Many in the international community are also unaware of the tireless efforts, discussions, legal reviews, and legislative revisions that Congress and the U. Congress and the administration went back to the drawing board to develop new legislative language that complied with international law and was technologically agnostic to the nascent U. In the final version, Title IV mandates — not once but in four separate sections — the requirement that space resource utilization conducted by U. In fact, the new law explicitly acknowledges the continuing validity and importance of Article II of the Outer Space Treaty, and declares to the world community that the U. Under Title IV, U. Much like fishing trawlers going to sea, the fishermen have the right to keep the fish that they catch, but have no ownership rights to the sea itself. An unfortunate myth has been circulating that Title IV was drafted by the U. Not only is the myth factually incorrect, but the polar opposite happens to be true. The language in Title IV was drafted not just for regulatory clarity for our industry in the U. For far too long the topic of space resource utilization was strictly confined to the arena of legal and engineering academic journals and conferences. With the passage of Title IV, space resource utilization has taken the first step towards realization, not just in the U. In fact, within less than five months after the passage of CSLCA, forward thinking nations such as Luxembourg and the United Arab Emirates openly expressed their intent and desire to develop their own national space resource utilization legal regime in order to foster the growth of an indigenous commercial space resource utilization industry. Encouragingly the list of other interested nations continues to grow. The birth and passage of the first national space resource utilization legal regime is the first step toward further international cooperation in space and it will ultimately benefit all mankind. With similar legislation being drafted in other nations, bilateral and multilateral agreements will develop between like-minded nations that see the economic, environmental, and social importance that space resource utilization will bring to their respective countries. Space resource utilization is not primarily about mining precious metals in space and bringing them back to Earth. Rather, space resources such as water ice, metals, regolith, and silicates will be the raw material used to develop structures in space that will enable humanity to reach farther into the depths of our solar system and beyond. The development of an international space resource utilization industry will also foster economic growth throughout the world and will develop advanced technologies yet unknown to benefit all mankind. And the same technologies employed for exploring and using asteroid resources will also be used for planetary protection to ward off any deadly Earth-bound asteroid. Just ask the dinosaurs. Deep Space Industries congratulates Brand Delta-V on the launch of the first marketing company exclusively dedicated to serving the growing number of entrepreneurial space ventures.. Is Asteroid Mining Legal? News from Deep Space: Pin It on Pinterest.

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Media about Legal Space

Is Asteroid Mining Legal?