In science-fiction stories, companies often mine the moon or asteroids. While this may seem far-fetched, this idea is edging closer to becoming reality.
Celestial bodies like the moon contain valuable resources, such as lunar regolith — also known as moon dust — and helium-3. These resources could serve a range of applications, including making rocket propellant and generating energy to sustaining long missions, bringing benefits in space and on Earth.
A longstanding debate centres on whether Article II of the treaty, which prohibits the appropriation of outer space — including the moon and other celestial bodies — also prohibits space mining.
The prevailing position is that Article II solely bans the appropriation of territory, not the extraction of resources themselves.
We are now at a crucial moment in the development of space law. Arguing over whether extraction is legal serves no purpose. Instead, the focus must shift to ensuring resource extraction is carried out in accordance with principles that ensure the safe and responsible use of outer space.
Recognizing the need for a co-ordinated global approach, the United Nations Committee on Peaceful Uses of Outer Space created a Working Group on Legal Aspects of Space Resource Activities. Its mandate is to develop a set of general principles to guide the development of the activity.
The development of a legal framework for space resources is still in its early stages. The working group is expected to submit its final report by 2027, but the non-binding nature of the principles raises concerns about their enforcement and application.
As humanity moves closer to extracting and using space resources, the need for a cohesive and responsible governance system has never been greater.
https://en.wikipedia.org/wiki/The_Moon_Is_a_Harsh_Mistress
Somehow I was immediately reminded of this.