claim to mining rights

> It is hard enough to raise capital for ventures in space. The
> improvement requirement is an extra requirement that will make an
> already difficult business proposition yet more difficult.
> Companies should be able to secure property rights in advance
> of any physical contact with the target body. Otherwise, the
> company will have to go before it's venture capitalists with an
> argument something like,

> "We're going to plan to mine asteroid 2000 SG344. However,
> if we run into some glitch that delays us longer than the property
> rights grace period, then we'll have to replan our mission and
> choose a different target."
"We're going to plan to mine asteroid 2000 SG344. However, if we
run into some glitch that delays us longer than the asteroid stays
within range, we'll have to replan our mission and either choose a
different target or wait until the blasted thing comes near opposition
again."

> Such a replanning contingency would be costly, and any sane venture
> capitalist would interpret that as financial risk. Methinks it would
> be better to go before the VC and say,

> "We've secured mining rights to 2000 SG344. No matter what
> delivery delays we might encounter, our mining rights will remain
> secure."
"Even if it leaves the vicinity of the Earth for the next three
years? What other possible targets have you secured that may come
within range in case of a delay?"
But perhaps choosing a different target will not be so costly. The
expedition will necessarily need several months for the trip itself,
plus the time spent mining the thing, or preparing it for return to HEO.
Choosing a different target of similar size may mean nothing more than
adding or subtracting a month to the travel time. It does not seem to
me that the asteroids are so diverse that equipment tailored to mine one
roid will be nearly useless on most of the others. Unless you
specifically hunt a roid with a rare composition.

Jon L. Beck.