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Luxembourg to develop asteroid mining

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Luxembourg is putting money into the asteroid mining industry. Companies will mine for water and minerals. This will help trips into space. Luxembourg wants to be a leader in this new space race. It wants to find lots of resources "on lifeless rocks". It said this would help to save natural resources on Earth.

In 2015, the USA made a law to let companies mine in space. The European Space Agency plans a research base on the Moon. Asteroid mining will help the exploration of space, and protect resources on Earth. However, the Outer Space Treaty of 1967 protects natural resources in space.