Prospecting on the moon or on asteroids is probably a couple of decades away, a NASA scientist told a symposium on planetary and terrestrial mining Tuesday.

The event, part of the Canadian Institute of Mining's annual convention, heard that issues like ownership and management of resources in outer space still have to be worked out.

One of the main problems is that no country owns anything in space.

One Canadian geologist suggests a regulatory system is needed for any future mining in space.

Joe Hinzer said the mining industry on Earth is regulated by an international committee under a United Nations umbrella that sets standards in different countries.

"I think that's the kind of approach that might work for extraterrestrial stuff as well," he said.

Source: CBC.ca - see full article