The US Wants to Change the Mining Rules on the MoonScience News
Since private companies have helped reduce the costs of launching equipment to space, there is an increased interest to develop space such as mining for raw materials. Nevertheless, the rules are unclear as to who would gain profit.
There is no company or country that claims to use space as private property. Due to the developments, a number of companies are eyeing on exploring rare elements on the moon that can be possibly used in the electronics industry. How they will bring these back on Earth is unknown.
The US government took action and made a new set of rules regarding private companies making profits on celestial bodies such as the moon. However, the rules are in conflict with the international treaty that the US has followed but not officially joined. They also plan to ask other nations to support the government’s perspective on space mining.
If private control was given to resources in space, it could cause a race among affluent companies from first-world countries as to who would get the resources and profit a lot. Another worry is that it could also cause military conflict with Russia, the US, and China to protect the assets in space.