United States President Barack Obama finally signed the new space mining act into law last week, that will now give permission to U.S. space companies to mine asteroids and sell them as natural resources. However, experts believe that this space mining is dangerous and even illegal.

Like Us on Facebook

Private space companies such as Planetary Resources is relieved that the U.S. Commercial Space Launch Competitiveness Act is now signed into a law, as this firm is now eyeing its sights for water extraction and rare materials from minerals in asteroids to gain commercial profit from them.

According to co-founder of  Planetary Resources, Eric Anderson, the U.S. Space Act is now the single greatest recognition of property rights in history. He says that this legislation established the supportive framework that can potentially create great economies throughout history via sustainable development of space.

However, some lawyers and scientists also voiced out their opposing views, where they believe that this new space act and the Outer Space Treaty of 1967, contradict each other. The 1967 space treaty declared that states should avoid harmful contamination of space and celestial bodies. It also says how celestial bodies and objects in general are not subject to national appropriation or claim of sovereignty via occupation or any means.

According to Chris Lewicki who is Planetary Resources' President and Chief Engineer, many investors are also concerned with this issue. McGill University's Institute of Air and Space Law professor, Ram Jakhu regards the U.S. Space Act as violating the prior space treaty directly, since it will now allow states, private companies and international organizations to obtain and own natural space resources. 

University of Kent's Gbenga Oduntan, who is an expert in international commercial law stated that the estimated states that can access outer space will increase from a more than a dozen and establish their own mining programs in space.  

He adds how earthly microbes will now contaminate the pristine conditions of these celestial bodies which will make it harder to trace the origins of life. This will also ultimately lead to permanent damage to space environment and even spur resource conflict among nations.

Tagsnew space mining law, U.S. Space Act, space mining, asteroid mining, US space mining law signed by obama, US, space race, dangerous illegal space mining law, outer space treaty, asteroids