Posted on 12/08/2015 11:11:12 AM PST by simpson96
Flashing some interplanetary gold bling and sipping "space water" might sound far-fetched, but both could soon be reality, thanks to a new US law that legalizes cosmic mining.
In a first, President Barack Obama signed legislation at the end of November that allows commercial extraction of minerals and other materials, including water, from asteroids and the moon.
That could kick off an extraterrestrial gold rush, backed by a private aeronautics industry that is growing quickly and cutting the price of commercial space flight.
The US Commercial Space Launch Competitiveness Act of 2015 says that any materials American individuals or companies find on an asteroid or the moon is theirs to keep and do with as they please.
(Excerpt) Read more at phys.org ...
I’d still like to know what became of the artificial diamonds that are impossible to distinguish from real ones.
That news item came and went in a hurry.
#MARTIANMININGRIGHTSMATTER
Funny. If somebody succeeds in bring in tons of space gold, the overall price per ounce will drop.
I guess that the good news would be that everybody could own lots of it.
The bad news is that you still can’t eat it.
They are still ‘conflict free’...(good question).
ROFL........just a matter of time, watch for the commercial on Glen Beck show.
They would need to bring in a lot of tons for significant price impact.
The world currently produces about 2,500 metric tons a year. Another 10 tons would not make a huge price drop.
Impurities which distinguish terrestrial gold from extraterrestrial gold. The value of gold in space will be its utility in manufacturing electronics and other components useful in space, such as gold foils. The most important material to be used is water-ice. It is needed for breathable oxygen, carbon dioxide, oxygen and hydrogen for rocket fuels, water-based solvents, and a vast list of other applications.
who’s gonna be the first to bring up the Jupiter Mining Company?
dave? rimmer?
These space mining companies will have to negotiate a deal with my company which was granted all the vast minerals rights in the universe, except earth, and I got it from the Clinton Global Foundation for a $100,000 donation.
I have the documents.
Still don’t see how this pases the Outer Space Treaty of 1967, which unambigiuosly states that whatever is found is the property of everyone.
Could you point to where that is part of the treaty?
http://www.unoosa.org/oosa/en/ourwork/spacelaw/treaties/introouterspacetreaty.html
Just like Obama. Sellin the dream.
See Article II
I was thinking ‘Lucky Starr and the Pirates of the Asteroids” but that would work too.
“It’s Cold outside...no kind of atmosphere”
“we’re all alone...more or less”
OMG I had know idea that cosmic mining was illegal.
The only explanation is that Obama must have signed an executive order proclaiming himself Master of the Universe.
ROFL
Outer space, including the Moon and other celestial
bodies, is not subject to national appropriation by
claim of sovereignty, by means of use or occupation,
or by any other means.
- - - - - - -
space cannot be subdivided into national “colonies,” in the manner of 19th century European powers. But there is a difference between appropriation of territory (in this colonial sense) and appropriation of mineral resources, as occurs in commercial mining-and OST says nothing in particular about the latter.
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