International Institute of Space Law OK With U.S. Asteroid Mining Law
The Board of Directors of the International Institute of Space Law (IISL) has issued a position paper concluding that a new U.S. law that grants property rights to resources mined from asteroids or other space objects by U.S. companies does not violate the 1967 Outer Space Treaty. The United States is a signatory to that treaty and whether or not the law complies with the treaty is matter of some debate in space law circles.
The law’s provision applies to extraction and use of resources from space objects generally, but is commonly referred to as asteroid mining because two U.S. companies are proposing to do that. It is part of the Commercial Space Launch Competitiveness Act that was signed into law by President Obama on November 25. While the law affects a variety of commercial space activities, the space resource mining provision is receiving the most attention.
Sourced through Scoop.it from: www.spacepolicyonline.com