Subscribe to our free daily newsletters
. 24/7 Space News .




Subscribe to our free daily newsletters



IRON AND ICE
New law establishes ownership rights for space minerals
by Staff Writers
Houston TX (SPX) Dec 03, 2015


Mining space resources has the potential to provide materials for space sustainability. Mining water from asteroids, the Moon or Mars, for example, will help ensure that human exploration will expand beyond low Earth orbit. Water can be used as fuel and as radiation shielding, as well as for life support.

A new public law signed by President Obama sets the stage for continued expansion of the U.S. space program and transforms the mining of space mineral resources (SMR). The President signed into law last Wednesday the U.S. Commercial Space Launch Competitiveness Act (CSLCA) that recognizes the right of U.S. citizens to own space resources they obtain as property and encourages the commercial exploration and recovery of resources from asteroids and other bodies in space.

The new law resulted from legislation championed by an impressive group of bipartisan congressional leaders including House Majority Leader Kevin McCarthy (R-CA), Representatives Lamar Smith (R-TX), Bill Posey (R-FL), and Derek Kilmer (D-WA), and Senators Patty Murray (D-WA), Marco Rubio (R-FL), Ted Cruz (R-TX) and Bill Nelson (D-FL).

"This new law has the potential to be a 'game-changer' especially for developing countries, and we applaud President Obama and the Congress for recognizing the benefits of mining space mineral resources," said Art Dula, a Trustee of the Heinlein Prize Trust and an adjunct faculty member of the University of Houston Law Center where he teaches space law.

"It also provides a much-needed regulatory framework to ensure the United States meets its obligations required by international accords including the Outer Space Treaty," Dula said.

Mining space resources has the potential to provide materials for space sustainability. Mining water from asteroids, the Moon or Mars, for example, will help ensure that human exploration will expand beyond low Earth orbit. Water can be used as fuel and as radiation shielding, as well as for life support.

Dula and 15 other organizations and companies along with subject matter experts from around the globe recently authored a study for the International Academy of Astronautics (IAA) that found that space mineral resources can benefit humanity and can level the playing field for developing countries, opening new opportunities for growth and exploration.

The study, "Space Mineral Resources: A Global Assessment of the Challenges and Opportunities," the most comprehensive to date, included a "how to guide" and examined the latest technologies, economics, law and policy related to space mineral resource opportunities. It included several recommendations to space agencies and an analysis of options to advance this exploration. Dula recently presented the study to the International Space Exploration Coordinating Group at the European Space Agency Center in Cologne, Germany.

IAA, an independent nongovernmental organization recognized by the United Nations, fosters the development of astronautics for peaceful purposes, recognizes individuals who have distinguished themselves in areas related to astronautics and provides a program through which the membership can contribute to international endeavors and cooperation in the advancement of aerospace activities.

"The IAA study is not about whether to leverage space mineral resources, but rather how best to leverage them," according to Dula. "Improving the world we know today will be possible by leveraging the phenomenal resources available in our solar system," he said.

This historic new law will create a pro-growth environment for the development of the commercial space industry by encouraging private sector investment and ensuring a more stable and predictable regulatory regime.

"By recognizing asteroid mining rights, this new law will be integral to protecting and supporting U.S. interests as the commercial space sector continues to expand," Dula concluded.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

.


Related Links
Heinlein Prize Trust
Asteroid and Comet Mission News, Science and Technology






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
IRON AND ICE
Who owns space
Kent, UK (The Conversation) Nov 27, 2015
An event of cosmic proportions occurred on November 18 when the US congress passed the Space Act of 2015 into law. The legislation will give US space firms the rights to own and sell natural resources they mine from bodies in space, including asteroids. Although the act, passed with bipartisan support, still requires President Obama's signature, it is already the most significant salvo tha ... read more


IRON AND ICE
Gaia's sensors scan a lunar transit

SwRI scientists explain why moon rocks contain fewer volatiles than Earth's

All-female Russian crew starts Moon mission test

Russian moon mission would need 4 Angara-A5V launches

IRON AND ICE
ExoMars has historical, practical significance for Russia, Europe

European payload selected for ExoMars 2018 surface platform

ExoMars prepares to leave Europe for launch site

Tracking down the 'missing' carbon from the Martian atmosphere

IRON AND ICE
Orion's power system to be put to the test

The Ins and Outs of NASA's First Launch of SLS and Orion

Aerojet Rocketdyne tapped for spacecraft's crew module propulsion

Brits Aim for the Stars with Big Bucks on Offer to Conquer Final Frontier

IRON AND ICE
China launches Yaogan-29 remote sensing satellite

China's indigenous SatNav performing well after tests

China's scientific satellites to enter uncharted territory

China to launch Dark Matter Satellite in mid-December

IRON AND ICE
Getting Into the Flow on the ISS

Russian-US Space Collaboration Intact Despite Chill in Bilateral Ties

ISS EarthKAM ready for student imaging request

Partners in Science: Private Companies Conduct Valuable Research on the Space Station

IRON AND ICE
"Cyg"-nificant Science Launching to Space Station

Aerojet Rocketdyne completes AJ60 solid booster for Atlas V launcher

Flight teams prepare for LISA Pathfinder liftoff

Rocket launch demonstrates new capability for testing technologies

IRON AND ICE
Neptune-size exoplanet around a red dwarf star

Exiled exoplanet likely kicked out of star's neighborhood

Retro Exo and Its Originators

How DSCOVR Could Help in Exoplanet Hunting

IRON AND ICE
Creating a new vision for multifunctional materials

Cryogenic testing from 1964 to the James Webb Space Telescope

SSL selected to provide new high throughput satellite to Telesat

Satellite Spectrum Is Central To Future Vision For Global Connectivity




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement