Bill Posey Launches Bill Allowing Companies Access to Asteroids

From his perch on the U.S. House Science, Space and Technology Committee, U.S. Rep. Bill Posey, R-Fla., teamed up with U.S. Rep. Derek Kilmer, D-Wash., to introduce a bill last week to increase opportunities for the private sector to explore and mine asteroids. The two congressmen unveiled the American Space Technology for Exploring Resource Opportunities in Deep Space (ASTEROIDS) Act of 2014 on Thursday.

Asteroids are excellent potential sources of highly valuable resources and minerals, said Posey. Our knowledge of asteroids their number, location, and composition has been increasing at a tremendous rate and space technology has advanced to the point where the private sector is now able to begin planning such expeditions. Our legislation will help promote private exploration and protect commercial rights as these endeavors move forward and I thank Rep. Kilmer for working with me to help advance this industry.

We may be many years away from successfully mining an asteroid, but the research to turn this from science fiction into reality is being done today, said Kilmer. Businesses in Washington state and elsewhere are investing in this opportunity, but in order to grow and create more jobs they need greater certainty. Thats why Im excited to introduce this bill with Rep. Posey so we can help the United States access new supplies of critical rare metals while serving as a launch pad for a growing industry.