Today’s news is OUT OF THIS WORLD! Literally.
Luxembourg’s government is officially kicking off an initiaitve to promote mining asteroids for minerals. They are following quite closely in the steps in our own President Obama who, three months ago, signed legislation with the same goal in mind.
Luxembourg is looking to become Europe’s hub for space mining. What a qualification to put on your country’s resume! Luxembourg is already one of the euro zone’s richest countries and it had a pivotal hand in the development of satellite communications a few years back. It also helped set up SES, one of the world’s largest satellite services company.
The country’s Vice-Prime Minister and Mininster for the Economy, Etienne Schneider, said that the goal of the country was “to open access to a wealth of previously unexplored mineral resources on lifeless rocks hurling through space, without damaging natural habitats.”
No budget has been set for the endeavour yet, but it is thought that the government could support as much as 45% of research and devolpment in the area.
It is believed that asteroids are packed with iron, nickel, and precious metals at much higher concentrations than those found currently on Earth, making up a market valued at TRILLIONS of dollars. Trillions with a T. What an exciting time to be alive.
*Information for this story was taken from mining.com.