The US government, through the 2015 US Commercial Space Launch Competitiveness Act, allows private entities to own and sell space resources, stimulating investment in space mining.
Prerequisites:
• Institutional & political interest and support for utilising space exploration technologies for services
• Legal expertise in space law, insurance, and liability
• Coordination with international frameworks (Outer Space Treaty, Liability Convention) and mechanisms between space agencies, insurers, and regulators to ensure clear roles, responsibilities, and communication in managing space exploration risks.
• Develop familiarity with international best practices to design effective and globally aligned insurance frameworks for exploration missions.
Cost:
• Ballpark: USD 100k–500k (policy and law) or USD 0.5–2M (full regime with licensing systems and guidance)
• Includes: stakeholder consultations and drafting, legal and regulatory review, inter-ministerial coordination (mining/industry, environment, foreign affairs), international alignment (UNCOPUOS, Artemis/ILRS contexts), design of licensing/authorization and supervision processes, compliance and reporting guidelines, outreach and training
Timeframe:
• Overall: 12–24 mo (policy and law) or 18–36 mo (full regime with licensing systems)
• Phase: scoping & stakeholder mapping (2–4 mo), drafting & legal review (4–8 mo), approval & adoption (3–6 mo), implementation (licensing procedures, guidance, training) (3–8 mo)
Pros:
• Clear Stance - Clarifies the national stance and rights regarding space resource utilization.
• Stimulating Private Sector - State regulations encourage private sector participation in the utilization of space resources
• International Positioning - May strengthens the nation's position in shaping international space resource governance.
Considerations:
• International Regulations - If the nation is a party to international space treaties, the national regime must align with them, which may create legal and diplomatic challenges.
• Overlooking of Environmental Angle - Lack of adequate environmental safeguards may attract international criticism.
• Need for expertise - Requires significant expertise to design the regime.