US President Barack Obama signed a major law that reverses decades of space law. Private companies can now mine asteroids.
The US government has now thrown out that understanding so that it can get rid of “unnecessary regulations” and make it easier for private American companies to explore space resources commercially. While people won’t actually be able to claim the rock or “celestial body” itself, they will be able to keep everything that they mine out of it.
US citizens are now able to obtain their own asteroids and mine resources out of them, and will be able to own the materials they find there. Until now, space has largely been treated as publicly-owned, meaning that nobody could claim commercial ownership of anything that was out there.
It is hoped that the new rules will allow people to harvest the often vast amounts of expensive resources that are inside of the asteroids that fly near our planet. In July, a rock with a platinum core passed that was worth £3.5 trillion passed by Earth.