Deep Space Industries, the asteroid mining company, has signed a Memorandum of Understanding with the Luxembourg Government to co-fund the development and launch of DSI’s first spacecraft. Known as Prospector-X, the small spacecraft will test key technologies in Low Earth Orbit that will be necessary for future asteroid prospecting. The agreement is a small, but important step toward developing the technologies necessary to enable the potentially very lucrative business of asteroid mining.
“Our promising cooperation with DSI within the spaceresources.lu initiative clearly demonstrates the strong commitment of the Luxembourg Government to support the exploration and future use of space resources.” Étienne Schneider, Luxembourg Deputy Prime Minister and Minister of the Economy
Back in February, Luxembourg became the first European country to announce their intention to establish the necessary legal and regulatory framework required for in-space commercial mining activities.
The U.S. had gone even further last year when President Obama signed the U.S. Commercial Space Launch Competitiveness Act (CSLCA). CSLCA states that U.S. companies are entitled to maintain property rights of resources they’ve obtained from outer space, providing companies like DSI and Planetary Resources regulatory peace of mind.