Social Media Sidebar

Announcement

Please sign up, comment on articles and bring your friends!

Current poll

PlanetTech is asking:

What do you think about our new web site?

Love it, indeed
Really good solution
Same as old one
The old one was better
This is a new option

Quote of the day

People say we're running out of energy. That's only true if we stick with these old 19th century technologies. We are awash in energy from sunlight.

 

Ray Kurzweil

 

United States Senate votes to legalize space mining

RATE THIS! +32
Posted in Science on 12th Nov, 2015 04:40 PM by AlexMuller

After much delay, an important space bill has finally passed in the United States Senate. The Space Act of 2015 would do a lot of things to encourage the private space industry, including extending the "learning period" wherein fledgling spaceflight companies can operate without too much government oversight.

 

It would also give companies the rights to the resources they might one day extract from asteroids, such as platinum and water (which, believe it or not, is a valuable resource in space). The bill has just passed in the Senate with unanimous approval and a few amendments. Now it will be sent back to the House of Representatives, which is expected to approve the changes, and then on to President Obama.

 

Although the bill hasn't officially been signed into law yet, Planetary Resources, one such company that hopes to extract resources from asteroids, issued an effusive letter thanking the Congressmen who supported the bill.
 
"Many years from now, we will view this pivotal moment in time as a major step toward humanity becoming a multi-planetary species," said Planetary Resources Co-Chairman Eric Anderson in the press release. "This legislation establishes the same supportive framework that created the great economies of history, and it will foster the sustained development of space."
 
At the moment it's not clear whether space mining is legal. Although there's nothing expressly forbidding asteroid mining by private companies, the Outer Space Treaty declares that no nation can own property in space. The wording of the treaty is vague enough that companies want to ensure they'll own the resources they mine from asteroids before investing millions or billions of dollars trying to extract them.
 
The bill would make those property rights official, at least under U.S. law. Although companies can't own the asteroids themselves, the current version reads:
 
“A United States citizen engaged in commercial recovery of an asteroid resource or a space resource under this chapter shall be entitled to any asteroid resource or space resource obtained, including to possess, own, transport, use, and sell the asteroid resource or space resource obtained in accordance with applicable law, including the international obligations of the United States."
 
An earlier version passed in the House in May. Since then, the Senate amended it with a few interesting changes. For one, by adding the word "abiotic" to the definition of "space resources," they specify that living things are not considered a resource.
 
The term ‘space resource’ means an abiotic resource in situ in outer space. In other words, companies can't own any potential aliens they might find out there.

Tags: spacePlanetary Resourcesbusinessasteroid miningUS

Read original article » Back to category

Comments



 

Recent headlines

  • Posted in Software on 2017-09-19 18:06:17
    China orders Bitcoin exchanges in capital city to close..read more
    Posted in Hardware on 2017-09-19 18:00:15
    LinkSpace is a Chinese startup that will try to make.....read more
    Posted in Medicine on 2017-09-19 17:54:24
    A Permanent Vaccine Against Tooth Cavity and Decay..read more
    Posted in Software on 2017-09-18 18:14:00
    China to become artificial intelligence 'world leader' by.....read more
    Posted in Science on 2017-09-18 18:10:24
    There's an Ocean Deep Inside the Earth..read more
Posted in Business on 2013-10-10 01:33
China is working towards a manned lunar mission in about.....read more
Posted in Business on 2013-10-20 07:17
Spacex says China is their main competitor for commercial.....read more
Posted in Software on 2013-10-20 06:43
Pirate Bay Browser Clocks 1,000,000 Downloads..read more
Posted in Medicine on 2013-10-10 02:10
Google reportedly investing hundreds of millions into new.....read more
Posted in Medicine on 2013-10-14 03:13
Endothelial Cells Can Repair and Regenerate Organs,.....read more
Posted in Science on 01.01.2010
Spacex says China is their main competitor for commercial.....read more
Posted in Science on 01.01.2010
Staring at Your Phone Could Be Making You Short Sighted..read more
Posted in Science on 01.01.2010
Oculus Rift virtual reality headset coming to mobile, but.....read more
Posted in Science on 01.01.2010
China is working towards a manned lunar mission in about.....read more
Posted in Science on 01.01.2010
Delivering drugs via nanoparticles to target mitochondria..read more

Recent Blog Posts

  • Posted by AlexMuller
    Scientists probe Neptune's depths to reveal secrets of icy.....read more
    Posted by AlexMuller
    New terahertz imaging approach could speed up skin cancer.....read more
    Posted by AlexMuller
    Rebutting the claim that antidepressants do not work..read more
    Posted by AlexMuller
    Artificial neural networks decode brain activity during.....read more
    Posted by AlexMuller
    Four Earth-sized planets detected orbiting the nearest.....read more

Login to your Account

Login to your PlanetTech Account here

Username:
Password:
Remember me
or

Create a New Account

You just need username and password

The following errors occured:
Username:
Email:
Password:
Verify password:
Remember me