Explore to Exploit: A Data-Centred Approach to Space Mining Regulation

In light of recent technological advancements in the launch industry and the accelerating development of a private space economy, the regulation of space mining is becoming an increasingly pressing matter. A regulatory regime for space mining must not only provide legal clarity on how to acquire mining rights for certain celestial bodies but must also do this in a way that does not hinder investment in companies in this sector. To encourage a progressive development and prevent the formation of market monopolies, the regime's mechanism for acquiring mining rights must be designed to promote continued investment in new space mining companies, even after first movers have proven the concept. With a strong emphasis on the proliferation of space mining and the establishment of a spacefaring civilisation, this article proposes a regulatory regime and mechanism to acquire rights for the mining of celestial bodies while preserving the information and knowledge contained within these bodies as heritage for future generations of mankind and for science to capitalise on an emerging economy's momentum.