Abstract:
The next frontier of resource extraction will not take place beneath our feet but over our heads. Space will be the next frontier in resource extraction because planetary bodies are composed of required minerals. It is estimated that the potential resources that can be recovered from one asteroid alone may be worth upwards of $10 quintillion. The extraction of space minerals is moving from fiction to reality through advances in in robotics, artificial intelligence, astronomy and reduced cost of space vehicle launches. While many countries have taken steps to create legislation for commercial space activities, Canada has not taken action despite long-standing excellent space programs. The panel will bring together scientists and space policy experts to discuss space resource mining and Canada’s role in it to generate discussion for policies aimed to investment in people, infrastructure and capital infrastructure.

Summary of Conversations

The panel explored the burgeoning field of space resource extraction, emphasizing its near-to-medium-term feasibility and potential. Discussions debunked sci-fi notions of asteroid mining for terrestrial resources, highlighting the value of water and power generation in space. Water on the moon, extractable for rocket fuel components, presents a significant commercial opportunity, while helium-3 offers a sustainable power source. Canada’s strengths in robotics, mining, AI, and finance position it as a key player. Policy gaps and the need for domestic space legislation to attract investment and provide certainty for commercial ventures were stressed. International agreements and frameworks were examined, and environmental impacts were raised as a concern.

Take Away Messages/ Current Status of Challenges

• Space resource extraction is moving beyond science fiction, with water and power identified as key resources.
• Existing international space law has critical gaps, particularly regarding resource ownership and mining rights.
• Domestic space policy is needed to provide certainty, attract investment, and define liabilities for commercial space companies.
• Geopolitical tensions and competing frameworks (Artemis Accords vs. International Lunar Research Station) create uncertainty.
• Canada possesses key technological strengths (robotics, AI, mining) but lacks a clear policy framework.
• Environmental impacts of space mining (altering celestial bodies, contributing to space debris) are a growing concern.
• Private sector funding is currently limited due to policy uncertainty and perceived risks.
• International consensus is difficult to achieve, hindering the development of universally binding agreements.

Recommendations/Next Steps

• Develop domestic space legislation that aligns with international agreements and provides clarity for commercial entities.
• Establish a Canadian space infrastructure bank to fund space resource development and promote international collaboration.
• Increase funding for space resource extraction research, particularly in the area of extraction technologies.
• Leverage Canadian expertise in robotics, AI, and mining to develop innovative solutions for space resource utilization.
• Promote international dialogue and collaboration to develop a global framework for space resource governance.
• Incorporate sustainability principles into space resource policies to minimize environmental impact.
• Foster collaboration between the government, universities, and the private sector to drive technological development and innovation.
• Address ethical considerations and ensure equitable benefit-sharing in space resource activities.