The Potential $100 Trillion Market For Space Mining

TechCrunch

[tc_contributor_byline cb_profile=”http://crunchbase.com/person/emily-calandrelli” slug=”emily-calandrelli”]

Who owns the asteroids in our solar system? It may seem strange, but Congress hopes to answer over the next few months with a new bill that is currently being reviewed by the Senate.

The SPACE Act bill, if passed, will allow private companies to mine asteroids and sell whatever they dig up.

Any asteroid resources obtained in outer space are the property of the entity that obtained such resources, which shall be entitled to all property rights thereto, consistent with applicable provisions of Federal law and existing international obligations.” -H.R. 1508

This is great news for companies like Planetary Resources and Deep Space Industries (DSI) who have already invested millions of dollars into this exact concept. Companies are particularly focused on asteroids that consist of metals that are rare to us on Earth or asteroids that contain large amounts of water which, with…

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