While the law lets citizens mine, sell and own riches mined in space, it does not grant sovereignty, ownership, exclusive rights or jurisdiction over any celestial body.
The loss was also an effect of the depreciation of the Russian ruble against the U.S. dollar and the revaluation of dollar-denominated loans and borrowings.
The 50/50 joint venture, momentarily named Project Corridor, is expected to help slash development costs as metal prices have dropped to multiyear lows.
Small-scale miners are being forced out at gunpoint or extorted to work for the armed groups that are taking over their operations. These gangs later sell the gold in the U.S., a report reveals.
The news came as the price of iron ore continues its month-long retreat, diving to a fresh 10-year low Tuesday to $43.69, according to The Metal Bulletin index.