Professors from the Faculty of Law, Economics and Finance advised the Luxembourg government on its space resources law, a draft of which was presented on 11 November 2016.

The government earlier in 2016 presented plans for an ambitious space mining programme, followed by a 25-million-euro investment in asteroid mining company Planetary Resources. At a press conference on 11 November, it unveiled draft legislation ensuring that private operators working in space can be confident about their rights to the resources they extract in outer space.

The 17-article bill was based on a study carried out by professors from the Faculty of Law, Economics and Finance, including SES Chair in Space, SatCom and Media Law Prof. Mahulena Hofmann, Prof. André Prüm and Guest Prof. Jean-Louis Schiltz. They were supported by international experts, such as Prof. Frans von der Dunk, professor in space law at the University of Nebraska-Lincoln, and Prof. Fabio Tronchetti, who specialises in space law at the Harbin Institute of Technology’s School of Law, China.

Prof. Schiltz who helped present the bill commented: "This draft law is a very innovative piece of legislation. At the same time, it is strongly embedded in the international legal framework. Luxembourg is showing once more that innovation through law can be a key trigger for innovation through technology to really take off and to produce encouraging results. I am proud that the University of Luxembourg was able to contribute to this visionary venture."

The draft law will be introduced in parliament over the coming weeks and is expected to come into effect in early 2017.

The full press release and recording of the press conference can be viewed on the Luxembourg government’s website.

Photo: Luxembourg Deputy PM & Economy Minister Etienne Schneider speaking at the press conference on 11 November 2016 / ©MECO