Currently, it is becoming increasingly likely that space resource development will become an actual industry. In order to encourage private business operators to engage in space resource development, it is essential that private business operators be permitted to have ownership of the space resources they mine and obtain. Further, it is important for states to establish a framework for authorization and continuing supervision of space resource development to assure that such activities are carried out in compliance with their obligations under the Outer Space Treaty as well as to provide a clear and predictable regulatory environment. At the outset, this article demonstrates that the ownership of space resources is permitted under public international law, and it recommends the establishment of a mutual recognition framework regarding conditions for the acquisition of rights in space resources to ensure the legal stability of international transactions of space resources. Second, this article identifies and examines the elements to be provided in domestic frameworks for authorization and supervision and the issues that require international coordination. Finally, given that organizing an international institution to authorize and supervise space resource development is currently not practical, this article recommends states to focus on establishing and developing their domestic frameworks for authorization and supervision, then resolve the issues that require international coordination.
Air and Space Law