How the Nation of Luxembourg Is Racing to Privatise Space

Arkyd 6 spacecraft
Arkyd 6 spacecraft

Mining asteroids is the new old game, though no longer science fiction. The Grand Duchy of Luxembourg – which has all the square footage of an asteroid and, with a population up to slightly over half a million – has earmarked €200m to fund NewSpace companies that join its new space sector. In July, the parliament passed its law – the first of its kind in Europe, and the most far-reaching in the world – asserting that if a Luxembourgish company launches a spacecraft that obtains water, silver, gold or any other valuable substance on a celestial body, the extracted materials will be considered the company’s legitimate private property by a legitimate sovereign nation.

Should space benefit “all of humankind”, as the international treaties signed in the 60s intended, or is that idealism outdated? How do you measure those benefits, anyway? Does trickle-down theory apply in zero-gravity conditions?

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