The Luxembourg Parliament has adopted a draft law on the exploration and use of space resources, making the Grand Duchy the first European country to offer an official framework for private investors and operators. <\/p>\n
Coming into force on August 1, it acts as a legal and regulatory framework which ensures private operators ownership of the resources they extract from space and establishes procedures for authorising and supervising space exploration missions. <\/p>\n
The legal framework represents a key action within a wider strategy implemented by the Luxembourg government through its SpaceResources.lu initiative which seeks to support the long-term economic development of new and innovative activities in the space industry.<\/p>\n
\"Luxembourg is the first adopter in Europe of a legal and regulatory framework recognising that space resources are capable of being owned by private companies,\" Deputy Prime Minister and Minister of the Economy, Etienne Schneider, said in a statement. <\/p>\n
He said the legal framework is \"part of the expertise ecosystem and the business-friendly, innovation-nurturing environment\" which Luxembourg offers space industry companies. <\/p>\n
\"By adopting almost unanimously the respective draft law, the Luxembourg Parliament confirmed the strong political cross-party and national commitment to the SpaceResources.lu initiative,\" he said. <\/p>\n
The new law does not apply to satellite communications, orbital positions or the use of frequency bands. <\/p>\n
Luxembourg authorities are already supporting the research and development projects of a number of leading players in the space mining industry that have set up their European operations in Luxembourg. <\/p>\n
(Roxana Mironescu and Heledd Pritchard roxana.mironescu@wort.lu<\/a>,+325 49 93 748, heledd.pritchard@wort.lu<\/a>, +352 49 93 459)<\/p>\n Get the latest news by signing up to our newsletter, following us on Facebook or Twitter. <\/p>\n <\/p>\n Read the original post:<\/p>\n Luxemburger Wort - Luxembourg becomes first European country to ... - Luxemburger Wort - English Edition<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The Luxembourg Parliament has adopted a draft law on the exploration and use of space resources, making the Grand Duchy the first European country to offer an official framework for private investors and operators. Continue reading