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I. Introduction
Space, often considered the "final frontier," has been a target of human exploration and exploitation for countless years. The 1960s and the Cold War perpetuated a space race that propelled humans into that frontier. With the space race, and the ensuing threat of conflict, a legal framework was hastily crafted to govern space. While this framework has served its purpose, technological developments and shifting geopolitics have changed the landscape. The rise of militaristic rhetoric regarding space by increasingly isolationist nations, as well as asteroid mining and the emerging space economy, has altered the status quo. With these changes comes an increased chance of conflict.
In this Note, Part II explores the history and development of the current space law framework and its impact on the growing space economy, including the recently adopted laws by the United States and Luxembourg allowing private companies to mine in space. Additionally, Part III will discuss models for governing space mining that have been proposed by various legal scholars. Finally, Part IV will recommend that the United States and other spacefaring nations return to the negotiating table to adopt one of these proposed models, and to develop a legal regime that recommits to the demilitarization of space.
II. Background
To better understand why a new cooperative international regime governing space would actually benefit the United States and its allies, it is important to contextualize the space mining industry, and the various treaties and obligations that already govern space. This Background provides insight into the developing space mining industry, the "Common Heritage of Mankind" principle, various space and sea treaties, and the decline of international treaties in favor of "soft law."
A. Space Mining Industry
Private investment into commercial space ventures, including research on asteroid mining, has increased exponentially in recent years, with some experts speculating commercial space commerce will soon develop into a multi-trillion-dollar industry.1 Asteroid and celestial body mining appeals to investors and space exploration enthusiasts because it has the potential to provide valuable raw materials, such as rare metals and ice.2 The value of space metals is staggering, with estimated worth stretching the imagination.3 While some materials have the potential to replace resources used on Earth, space mining will likely first be used in orbit to...