[Satnews] Deep Space Industries (DSI) has congratulated the members of the United States Senate for passing legislation that significantly advances the cause of opening space resources to humanity.

Title IV of S.1297, also referred to as the U.S. Commercial Space Launch Competitive Act of 2015, promotes the right of US citizens to engage in commercial exploration for, and commercial recovery of, space resources in accordance with international obligations and subject to supervision by the U.S. government.

Title IV will spur an influx of capital into the industry and encourage entities to further develop plans and technologies to extract minerals from the vast numbers of asteroids and other resource-rich bodies in the solar system. Establishing a solid legal foundation for the development of space mineral resources is a necessary first step in opening the frontier. This legal framework is essential for serious investment to occur in what may become one of the biggest industries of all time.

DSI leaders and other members of the commercial space industry are impressed by the tone of the legislation, and point out that everyone involved, no matter their party, company or interest has been working hard to get this right.

Executive Comment

“We are pleased to see the beginnings of legal clarity in the field of space resource utilization,” said Rick Tumlinson, Chair of Deep Space Industries. “This bill is a historic step forward and demonstrates that Congress can effectively and quickly pass legislation that is important to the country’s economic future. The hard-working legislators and their staff on Capitol Hill are to be commended.”