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Luxembourg pioneers property rights laws for planets and asteroids image
14 July 2017
Luxembourg

Under international mining law, mining in space is a contentious subject

LONDON, July 14 (Thomson Reuters Foundation) - Luxembourg's ambitions to become a leader in the nascent space mining industry moved a step forward as it adopted a new law to create property rights on planets and asteroids and govern exploration and use of space resources.

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Founded in 963, Luxembourg became a grand duchy in 1815 and an independent state under the Netherlands. It lost more than half of its territory to Belgium in 1839 but gained a larger measure of autonomy. Full independence was attained in 1867. Overrun by Germany in both world wars, it ended its neutrality in 1948 when it entered into the Benelux Customs Union and when it joined NATO the following year. In 1957, Luxembourg became one of the six founding countries of the EEC (later the EU), and in 1999 it joined the euro currency area.

Luxembourg is constitutional monarchy.

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