Space Resource Mining : excuse me, that's my asteroid

Abstract

Space resource mining is slowly, but surely, becoming a reality, and with this reality come certain legal issues, such as: the legality of space resource mining; property rights over outer space mined ore; and conflicts between investors interested in the exploitation of the same asteroid or parcel of extra-terrestrial land. This research seeks to examine these legal issues. The findings of this study indicate that space resource mining is not prohibited by the Outer Space Treaty per se; it is possible that states can appropriate outer space natural resources provided that that does not include any permanent claims of appropriation over the area where the natural resources are being mined and it does not prevent other states from doing the same. The Outer Space Treaty and the Moon Agreement, which are the guiding treaties of international space law, lack specific rules the regulation of the mining of space resources. This research study recommends that a new legal regime should be drafted to govern space resource mining to ensure a safe and orderly development of this activity. Furthermore, an efficient dispute settlement mechanism must be established within the context of the legal regime governing space resource mining, to resolve disputes arising in the course of space resource mining.