Asteroid mining is $220 million venture for Luxembourg

Asteroid mining is $220 million venture for Luxembourg

"It is a crazy idea. That's why we love it!", said Olivier Francis, a geophysicist at the University of Luxembourg, who is developing ways to mine asteroids in space.

https://wwwen.uni.lu/recherche/fstc/research_unit_in_engineering_sciences_rues/members/olivier_francis

Luxembourg has issued five five asteroid mining permits with 60 pending. The Luxembourg ministry said it is optimistic that at least one of these companies will launch a prospecting mission to an asteroid within three years.

Some asteroids are rich in the platinum group materials and other precious metals. Some asteroids are mostly nickel-iron alloys.

Luxembourg is bidding to become the Silicon Valley of Space Mining.

On July 2nd, a Luxembourg-based asteroid mining company will make an initial product offering to sell stock to fund its operations on the Australian Stock Exchange. 

It was confirmed in a press conference last month by √Čtienne Schneider, Deputy Prime Minister of Luxembourg and Minister of the Economy.

http://www.spaceresources.public.lu/en/actualites/2018/KLEOS-Space-IPO-Australian-Stock-Exchange.html

Luxembourg is a land-locked country next to Belgium to the west and north, Germany to the east, and France to the south.

An overview of Luxembourg's space-related activities
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