Luxembourg sets aside 200 million euros to fund space mining ventures

BRUSSELS – Luxembourg on Friday upped its bid to be a leader in the nascent space mining industry by setting aside 200 million euros ($223 million) to fund initiatives aimed at bringing back rare minerals from space. Luxembourg in February announced plans for a law that would make it the first state in Europe to give legal clarity to the commercial exploitation of asteroids. A similar law was passed by the United States in November. “We have a first budget to get started but if we need more money, we will be able to provide it,” Etienne Schneider, Luxembourg’s economy minister told a news conference.



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