Is Space Mining Legal?, Popular Science
"In May, the House of Representatives passed a bill that would give asteroid mining companies property rights to the minerals they extract from space. Called the Space Act of 2015, the bill now awaits the Senate's decision. ... In an article in the journal Space Policy, Fabio Tronchetti, a lawyer at the Harbin Institute of Technology in China, argues that the Space Act of 2015 would violate the Outer Space Treaty. He writes: States are forbidden from extending their territorial sovereignty over outer space or any parts of it. Despite arguments claiming otherwise this prohibition also extends to private entities. In essence, Tronchetti argues that if the U.S. passes this bill, it will confer rights to space companies that the U.S. doesn't have the power to give."
Keith's note: This is like the legislation declaring the Apollo landing sites and their artifacts as a "National Historic Park". How can the U.S. Congress make laws, impose regulations, and confer rights regarding activities - by anyone - on bodies in the solar system over which it has no jurisdiction?
Why would any company pour billions into a mining project if they cannot own anything that they dig up? A mining site is composed of stuff that a miner wants to take and eventually sell to someone else. You can't sell something that you do not own. And if no nation can claim territory in space (where those mining sites would be located) then how can any nation make laws that give someone the right to mine these places?
"Any asteroid resources obtained in outer space are the property of the entity that obtained them, which shall be entitled to all property rights to them, consistent with applicable federal law and existing international obligations."
"Outer space, including the moon and other celestial bodies, is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means."
- Protecting the Apollo Sites, earlier post