resource-property-rights

The chapter critically examines widespread misconceptions about the 1979 Moon Agreement, emphasizing the importance of interpreting the treaty within its negotiated history and legal context rather than relying solely on its text. It clarifies that the Agreement does not impose a moratorium on lunar resource exploitation, but rather anticipates future negotiations for an international regime, allowing experimental and commercial activities under existing international law. The chapter also addresses political opposition rooted in geopolitical fears, distinguishes property rights over lunar resources 'in place' versus extracted resources, and discusses the implications for private investment and state responsibility in space resource governance.

The chapter reevaluates the Moon Agreement by emphasizing the authoritative interpretations provided by COPUOS and the UN General Assembly, which clarify that the treaty does not impose a mining moratorium but supports environmental protections and exclusive control over extracted lunar resources. It highlights the evolving geopolitical context with renewed U.S. and international interest in lunar exploration and resource exploitation, including China's and Russia's plans for helium-3 mining, and critiques the Cold War-era political opposition to the treaty. The chapter advocates for U.S. ratification and the establishment of an international regulatory regime to enable equitable, sustainable, and commercially viable lunar resource utilization under a clear legal framework.