The Race For Space Resources
- IJLLR Journal
- Mar 14
- 2 min read
B Nidhi Rathore, University of Mumbai
Today, technological advancements soar beyond Earth, and as a result, space mining makes us rethink the rules that once bound us to terra firma. As the saying goes, "fortune favors the bold." Are we ready to rewrite the rules when our aspirations no longer know the limits of gravity? Extracting precious resources from asteroids, lunar surfaces, and other celestial bodies demands a daring overhaul of international legal doctrines that were forged when our dreams were still rooted in the familiar soil of Earth.
At present, discussions on global regulations for outer space operations, as detailed by the UN Office for Outer Space Affairs showcase the need for a fresh, forward-thinking approach to governance. As private entities and national agencies race into space, our mid-20th-century laws appear as antiquated as a handwritten map in the digital age. Conflicts would entail when the age-old principles of sovereignty, territory, and property rights collide with the infinite vastness of space.
Isn't it time to cast aside the old playbook and embrace a radical, forward-thinking approach to governance?
This revolution beckons us to reimagine a future as boundless as the universe itself.
Blueprints of the Outer Space Treaty
The Outer Space Treaty, created during the Cold War, was built on the idea that space exploration should be peaceful and cooperative. It prohibits countries from claiming space as their own.
But when this treaty was written, space wasn’t seen as a commercial playground, it was strictly for science. Now, the world’s focus has shifted, and huge ambiguities remain in the legalities of space exploration. There is a need to deal with the new wave of space mining, and more importantly, with companies jumping into this new market, The questions are pressing: -
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