The Luxembourg government has ambitious plans to profit from asteroid mining by signing a contract with two US space exploration companies that will eventually conduct missions to extract water and minerals in outer space.
The tiny European country has been exploring the sector since 2013, and officially entered the race to develop a space mining industry in February.
The country aims to become a global hub for asteroid mining and has already signed a contract with California-based Deep Space Industries to develop a small and experimental spacecraft that will be built in Luxembourg and will be able to test exploration and production technologies on asteroids near Earth after 2020.
Deputy Prime Minister of Luxembourg Etienne Schneider noted that his country is working to create a legal framework for the use of space resources.
Luxembourg strives to become a leader in asteroid mining
There are no comments yet.