Planetary Resources says it will start ramping up an international asteroid-mining subsidiary in Luxembourg by the end of the year – and will think about expanding operations to other locales as well.
The Luxembourg deal was announced last week, but many of the details are still to be determined, said Chris Lewicki, Planetary Resources’ president and CEO.
To refresh your memory from geography class, Luxembourg is a tiny nation wedged between Belgium, Germany and France. It’s more than 5,000 miles away from Planetary Resources’ headquarters in Redmond, Wash. So, why Luxembourg?
“We are looking at things that amplify our presence in Seattle,” Lewicki told GeekWire today at the Space Frontier Foundation’s NewSpace 2016 conference. By the end of the year, Planetary Resources plans to work out the details and make a “handful of hires,” he said.