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Lawmakers in the tiny European country of Luxembourg today approved a measure affirming that space resources can be privately owned. The law, adopted nearly unanimously by Luxembourg’s parliament, also sets up procedures for authorizing and supervising space exploration missions. It will go into force on Aug. 1. Planetary Resources – which is headquartered in Redmond, Wash., but has a Luxembourg-based subsidiary – hailed today’s action as further evidence of the nation’s status as a global leader in the space resources sector. “Luxembourg’s new space resources law provides Planetary Resources with a strong basis for stability and predictability for our current and future asteroid mining operations,” Peter Marquez, the company’s acting general manager, said in a statement. A delegation from Luxembourg visited Redmond and Seattle during a U.S. tour last month.

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