Luxembourg Drafts New Space Law: Private Companies Now Have Right Over Resources Harvested in Space

The Luxembourg government has a new law that ensures that private operators working in space will have the right to the resources that they extract. This is part of an overall strategy within its SpaceResources.lu initiative to use and extract resources from Near-Earth Objects (NEO) such as asteroids.

According to Luxembourg's government website, the draft law affirms that space resources can be appropriated in accordance with international law. This makes Luxembourg the first European country to provide legal certainty toward the ownership of minerals and other space resources in NEOs.