(TL/JB) Luxembourg is to get its own space agency, the economy minister announced Saturday at an event to exchange ideas between the European Space Agency and Luxembourg citizens.

Ettienne Schneider was speaking in front of 100 Luxembourg residents who had responded to the ESA's appeal and attended the discussion at Tramschapp, in Limptertsberg.

“The idea of a national space agency is an idea that I have had for some time. For now, we do not have the personnel. But this kind of structure is an idea I would expected to announce in the future,” he said, responding to a question from a Portuguese resdient.

The Minister outlined the government's space strategy for the country, namely its recently announced act on the rights for harvesting precious metals from asteroids. The Resources Act is to be presented in October and, if passed, should come into effect in 2017.

"US laws are only open to companies with American capital. Ours will be open to any player. So I hope that startups who want to launch and develop and which will therefore be obliged to seek capital, will need to set up elsewhere in the United States."

He explained that private actors wishing to benefit from the act should a licence under state supervision, partly to keep an eye on the sensitive issue of waste in space.

Schneider said he expected a business model for managing waste in space would emerge in time.