JOHANNESBURG (miningweekly.com) – US-based asteroid mining company Planetary Resources and the government of Luxembourg have teamed up to advance space mining ambitions, leveraging the attractive framework for their cooperation within Luxembourg’s SpaceResources.lu initiative.
Through a memorandum of understanding between the duo, along with banking institution Société Nationale de Crédit et d'Investissement (SNCI), the parties planned to explore opportunities and advance technologies for asteroid prospecting missions.
The government would support potential exploration and commercial use of resources from near-earth objects, including asteroids, by providing funding through research and development grants or other different types of aid available, with Luxembourg considering a direct capital investment through SNCI for a minority stake.
Planetary Resources, which would establish a base in the European country, would undertake key research and development activities and contribute to the promotion of the local space industry by developing several key activities, exclusively in Luxembourg, focused on space hardware development, space services, applied research and scientific discovery.
Newswire Reuters last week reported that Luxembourg had set aside €200-million to fund initiatives aimed at bringing back rare minerals from space, with plans in place to establish a law outlining the legalities of the commercial exploitation of asteroids.
Planetary’s earth observation business, Ceres, would generate revenue and intellectual property in Europe and beyond to further develop the technologies and services required for the asteroid prospecting missions.
“The pathway for identifying the most commercially viable near-Earth asteroids has led to the development of multiple transformative technologies that are applicable to global markets, including the agriculture, oil and gas, water quality and financial intelligence industries,” said Planetary president and CEO Chris Lewicki.
Last year, Planetary-developed core hardware and software technologies were tested through the deployment of the Arkyd-3R satellite from the International Space Station.
The next spacecraft, the Arkyd-6, was scheduled for launch later this year.
“This mission will validate the thermographic sensor that will precisely measure temperature differences of objects on earth and, when deployed on future asteroid missions, it will acquire key data related to the presence of water and water-bearing minerals on asteroids,” he concluded.