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Re:Oolite: Elite Re-Invented, Open-Source style by vidarh on Sunday June 15, 2014 @09:15AM (#7895164)
Christian Pinders "Elite: The New Kind" is worth a mention. It was released around 2002 I think, and unfortunately relatively quickly withdrawn due to a request from Braben, I believe.

The New Kind was a re-implementation of Elite in C that largely tried to follow the way the original worked, while remaining readable C.

I hacked on my copy for a while to port it to OpenGL, add some particle systems for explosions, and embed ppmforge (I think, it may have been another fractal planet generation tool) to create fractal planet surfaces (just a quick hack to add a texture on a sphere that looked nice from the air, I didn't even begin to think about adding code to land etc.)

Pinders original source shouldn't be impossible to find. It's worth a look.

Re:Oolite: Elite Re-Invented, Open-Source style by maglevfield on Sunday June 15, 2014 @02:58PM (#7895957)
For information on official sequels take a look here.

http://elite-dangerous.wikia.com/wiki/Elite:_Dangerous_FAQ

There is also an active subreddit or them

http://www.reddit.com/r/EliteDangerous/

The sequels were much more extensive and attempted a Milky Way galaxy with realistic 1:1 scale star systems with orbital mechanics and seamless planetary transitions.

The reason Elite TNK was pulled was because someone was selling it without permission.

Re:Oolite: Elite Re-Invented, Open-Source style by svag on Sunday June 15, 2014 @03:00PM (#7895961)
I just found the following git repository

http://git.distorted.org.uk/~mdw/newkind

I haven't tested it to see if compiles or not.