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    Home > Top Stories > Race for moon resources has begun, says Russia’s space chief after failed lunar mission
    Top Stories

    Race for moon resources has begun, says Russia’s space chief after failed lunar mission

    Published by Jessica Weisman-Pitts

    Posted on August 21, 2023

    2 min read

    Last updated: February 1, 2026

    Image shows the Luna-25 spacecraft, which aimed to explore moon resources. This failed mission highlights Russia's ongoing commitment to lunar exploration amid global competition.
    Luna-25 spacecraft view captured before its failed lunar mission - Global Banking & Finance Review
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    Tags:innovationtechnologyresources sectorfinancial communitysustainability

    Quick Summary

    MOSCOW (Reuters) – The race to explore and develop the moon’s resources has begun and Russia must remain a player despite the failure of its first lunar mission in 47 years, the head of Russia’s space agency Roskosmos said on Monday.

    Race for moon resources has begun, says Russia’s space chief after failed lunar mission

    MOSCOW (Reuters) – The race to explore and develop the moon’s resources has begun and Russia must remain a player despite the failure of its first lunar mission in 47 years, the head of Russia’s space agency Roskosmos said on Monday.

    Russia’s Luna-25 space craft spun out of control and crashed into the moon on Saturday after a problem preparing for pre-landing orbit, underscoring the post-Soviet decline of a once mighty space programme.

    Roskosmos chief Yury Borisov, looking downbeat during an interview with the Russia-24 state TV station, said it was in Russia’s vital national interests to remain committed to lunar exploration.

    “This is not just about the prestige of the country and the achievement of some geopolitical goals. This is about ensuring defensive capabilities and achieving technological sovereignty,” he said in his first public comments after the aborted mission.

    “Today it is also of a practical value because, of course, the race for the development of the natural resources of the moon has begun. And in the future, the moon will become a platform for deep space exploration, an ideal platform.”

    Russia has said it will launch further lunar missions and then explore the possibility of a joint Russian-China crewed mission and even a lunar base. NASA has spoken about a “lunar gold rush” and explored the potential of moon mining.

    The United States in 2020 announced the Artemis Accords, named after NASA’s Artemis moon program, to seek to build on existing international space law by establishing “safety zones” on the moon. Russia and China have not joined the accords.

    (Reporting by Vladimir Soldatkin; Editing by Gareth Jones)

    Frequently Asked Questions about Race for moon resources has begun, says Russia’s space chief after failed lunar mission

    1What is lunar exploration?

    Lunar exploration refers to the study and investigation of the Moon's surface and resources, often involving missions to gather data and potentially develop its resources.

    2What is technological sovereignty?

    Technological sovereignty is the ability of a nation to independently develop and control its technology, ensuring national security and self-reliance in critical sectors.

    3What are the Artemis Accords?

    The Artemis Accords are a set of agreements initiated by NASA to establish guidelines for international cooperation in lunar exploration and the use of space resources.

    4What is a lunar base?

    A lunar base is a facility established on the Moon to support human habitation and activities, often aimed at research, exploration, and resource utilization.

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