LUXEMBOURG (Luxembourg Government PR – To promote Luxembourg as a European hub for the exploration and commercial use of space resources, the Ministry of the Economy conducted from April 9th to April 13th an economic mission headed by Luxembourg’s Crown Prince to the U.S. West Coast. The mission aimed to identify and develop new business opportunities and to promote the governmental SpaceResources.lu initiative that offers an attractive overall framework for space resource utilization related activities, including but not limited to the legal regime to provide private companies and investors with a secure legal environment as of the ownership of resources gathered in space.
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“spaceresources.lu”
LUXEMBOURG (Luxembourg Government PR) — The Government of the Grand Duchy of Luxembourg is pleased to announce an international press conference within the SpaceResources.lu initiative to present a legal and regulatory framework for space resource utilization activities.
The SpaceResources.lu initiative defines a general framework for the exploration and commercial utilization of resources from Near Earth Objects (NEOs), such as asteroids. Amongst the key actions undertaken is the establishment of an appropriate legal and regulatory framework for space resource utilization activities to guarantee operators the right to harvest resources in outer space in accordance with international law.
REDMOND, Washington, November 3, 2016 (Planetary Resources PR) – Planetary Resources, Inc., the asteroid mining company, announced today that it has finalized a 25 million euro [$27.75 million] agreement that includes direct capital investment of 12 million euros and grants of 13 million euros from the Government of the Grand Duchy of Luxembourg and the banking institution Société Nationale de Crédit et d’Investissement (SNCI).
The funding will accelerate the company’s technical advancements with the aim of launching the first commercial asteroid prospecting mission by 2020. This milestone fulfilled the intent of the Memorandum of Understanding with the Grand Duchy and its SpaceResources.lu initiative that was agreed upon this past June.
Asteroid Eros
Luxembourg will make an initial investment of 200 million euros ($227 million) to become the “Silicon Valley of space resources” under an initiative that will primarily benefit two American asteroid mining companies.