Deep Space Industries Mining Project (its not Si-Fi)

Luxembourg took the next step to mine rare raw materials on asteroids in space. The small country is partnering the US company of Deep Space Industries (DSI). Test will begin in four years, for the first time mining technology will be present in space.Not only with financial operations Luxembourg knows, but also with mining: rich ore deposits in the South West of the country laid the foundations for the prosperity of the small European territorial State (2586,4 km²). Both business and mining wants to profitably connect Luxembourg in the space. The Grand Duchy has signed a contract with the American company Deep Space Industries to develop new technology for the mining industry at all.

Testing new mining technology on asteroids.

The new partners start their first joint research with Prospector-X. The project used a vehicle to test important basic technologies for the first mission and study asteroid. In four years new technique will be tested in space.

Deep Space Industries
Foto: Deep Space Engineering.

The space transportation company DSI, which has its headquarters in Luxembourg, and will cooperate in the Prospector-X Project along with the University of Luxembourg. First mission to the DSI’s new European headquarters in Luxembourg will be developed exclusively.

“Our goal is to provide access to a wealth of hitherto unexplored minerals to inanimate rocks that travel through outer space, without destroying natural habitats,” said Luxembourg economy Minister Étienne Schneider at the signing.

Luxembourg ambitions goes in the way to United States

In February, David Luxembourg had announced to want enter in the asteroid mining and thus prepared Goliath United States on competition as former autocrat. So, the Grand Duchy of wants to create a legal framework which gives “Clarity about the ownership of the minerals”, obtained on near-Earth objects.

Also the name Deep Space Industries (DSI) was already beginning 2016 relating to Luxembourg considerations directly in aerospace companies to invest, to support their research. In the boat, pardon, spaceship brought the Government of Luxembourg has the national investment bank Société National de Crédit et d’Investissement (SNCI) also signed the agreement.

Foto: Deep Space Engineering.

“We are very impressed by Luxembourg’s concrete efforts to create an economy for asteroid resources”, explains DSI CEO Daniel Faber.

Luxembourg moved to longer space companies

Already, space companies such as satellite operator SES and Intelsat domiciled in Luxembourg. And measured by the per capita expenditure, Luxembourg is the largest contribution payers to the European Space Agency ESA. Experts see a billion dollar market in the asteroid mining and mining at all.