Feeds

Read the proposed US ASTEROIDS Act to green-light mining IN SPAAAACE

There's gold in dem cosmic hills

Secure remote control for conventional and virtual desktops

A pair of US Representatives are pushing legislation that would remove some of the legal hurdles to commercial space mining.

HR 5063, the adorably named American Space Technology for Exploring Resource Opportunities In Deep Space (ASTEROIDS) Act, would define when resources mined from an asteroid could be considered private property.

According to a copy of the proposed law [PDF] obtained by SpacePolicyOnline.com, private firms would be able to claim that asteroid materials are their property once the material has been extracted. The mined materials would then be considered private property under US laws and subject to legal protections.

Co-authors Bill Posey (R-FL) and Derek Kilmer (D-WA) are hoping that the legislation will help remove some of the legal obstacles facing private companies in their efforts to build and launch craft to mine valuable minerals from asteroids.

"Our knowledge of asteroids – their number, location, and composition – has been increasing at a tremendous rate and space technology has advanced to the point where the private sector is now able to begin planning such expeditions," Posey said in announcing the bill.

"Our legislation will help promote private exploration and protect commercial rights."

The bill also takes care to comply with "international obligations," most notably the Outer Space Treaty of 1967, which forbids states from making a claim to ownership of any celestial body.

The ASTEROIDS Act would look to address that by simply covering claims companies made on extracted materials and not allowing for any ownership claims on the asteroid itself. The bill also forbids mining craft from interfering with the operation of any other vessels in the course of mining materials.

The paperwork is in referral to the House Committee on Science, Space and Technology, and would need to pass both the House and Senate before being signed into law by the President. ®

The essential guide to IT transformation

More from The Register

next story
'Stop dissing Google or quit': OK, I quit, says Code Club co-founder
And now a message from our sponsors: 'STFU or else'
Ex US cybersecurity czar guilty in child sex abuse website case
Health and Human Services IT security chief headed online to share vile images
Don't even THINK about copyright violation, says Indian state
Pre-emptive arrest for pirates in Karnataka
The police are WRONG: Watching YouTube videos is NOT illegal
And our man Corfield is pretty bloody cross about it
Felony charges? Harsh! Alleged Anon hackers plead guilty to misdemeanours
US judge questions harsh sentence sought by prosecutors
Oz biz regulator discovers shared servers in EPIC FACEPALM
'Not aware' that one IP can hold more than one Website
Apple tried to get a ban on Galaxy, judge said: NO, NO, NO
Judge Koh refuses Samsung ban for the third time
prev story

Whitepapers

Best practices for enterprise data
Discussing how technology providers have innovated in order to solve new challenges, creating a new framework for enterprise data.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?