An Article in the New York Law Journal on Asteroid Mining Legalities

Over the last two years, U.S. business and policy makers have focused afresh on the commercial possibilities of the asteroids—the solar system's minor planetary objects. Most of these are located between Mars and Jupiter, while some are closer to Earth. Some have large deposits of precious metals and other potentially valuable substances. In the last few years, some private operators have announced plans to mine them commercially, a concept that, until now, has been exclusively the realm of science fiction.

In apparent response to these initiatives, the House of Representatives recently passed the "Space Resource Exploration and Utilization Act of 2015," H.R. 1508, part of a broader SPACE Act of 2015, H.R. 2262. The proposed legislation aims to assure private companies of title over "[a]ny asteroid resources obtained in outer space"—assuming, of course, that they are eventually able to get there. Although this initiative only began in the late part of the last congressional session, with relatively brief hearings, it was sponsored by key members of the House Committee on Space, Science and Technology. The bill now goes to the Senate (where it already has at least two potential adherents, including presidential candidate and Senator Marco Rubio). If enacted, this will be a bold, if controversial, development in U.S. space policy.

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