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LEGALITY OF UNILATERAL EXPLOITATION OF SPACE RESOURCES UNDER INTERNATIONAL LAW

Abstract In recent years, there has been a surge of private investment in space resources and the enactment of domestic legislation aimed at protecting property rights over the resources to be extracted. This article argues that the unilateral exploitation of space resources is not prohibited by the principle of non-appropriation and is consistent with the freedom of use for common benefit and interests, with the caveat that it does not exclude others from exploitation or exacerbate inequality among States. It also argues that a laissez-faire approach would be detrimental to the orderly, sustainable and safe exploitation and use of space resources and calls for the establishment of an international regulatory regime consisting of rules concerning international coordination, benefits sharing and environmental protection.