SPACE: The race for mineral rights ‘The sky is no longer the limit’ Lessons from earth!

This research paper considers the ‘new space race’ – and the desire to extend sovereignty and ownership higher - the sky is no longer the limit.
In 2015 the U.S. passed the Federal Space Resource Exploration and Utilization Act, which would permit mining in outer space; however, it remains highly controversial and in essence goes against the United Nations rationale that some areas are beyond the limits of national jurisdiction and cannot be claimed. This paper considers both the Bill and the final Act. Comparison analysis of other Treaties is considered and therefore the validity of State commercialization of assets deemed as being ‘mankind’s heritage’ is questioned. In doing so, the research provides comment on the similarities of lessons learnt from Earth and other UN International Treaties and Conventions, with correlation-reference made to the current situation in the South China Sea. The paper illustrates the U.S.’s reluctance to ratify any treaty, which does not allow the freedom …. of its competitive advantage.