China’s 2025 steel demand to fall 1.5% on year, state research institute says
China's steel consumption in 2024 and 2025 is forecast at 863 million metric tons and 850 million tons, respectively.
Researchers from the Scottish University of Strathclyde, in Glasgow, have found 12 asteroids that could be easily blasted into accessible orbit and subsequently mined.
According to the MIT’s Technology Review, the team analyzed a list of 9,000 near-Earth celestial bodies relatively close to our planet in search of those that could follow into the so-called “Easily Retrievable Objects” category (EROs).
Geologists believe that asteroids hold iron ore, nickel and precious metals at much higher concentrations than those found on Earth.
In fact, an asteroid that flew by the earth earlier this year had an estimated value of $195 billion in metal and fuel.
Scientists have said asteroid mining is a necessity as many metals that underpin our modern economy are quickly being depleted.
Without any new technological advances, metals like zinc and gold are expected to run out in 100 years, they claim.
So far there are at least two asteroid mining companies —Planetary Resources and Deep Space Industries —and the he US National Aeronautics and Space Administration (NASA) looking into the feasibility of the extraterrestrial endeavour.
Image from NASA’s gallery
12 Comments
alan
So lets say an asteroid is 4 miles wide and is made up of solid gold. If the asteroid hit the earth without causing any damage at all, what would the value of gold me if suddenly it was a very common metal?
Kayazeki
What about the mass of the earth? “Matter cannot be created or destroyed” rule is not respected here. Any physics rule is missing?
Andy
This is absolutely ridiculous ! There is currently no finance for exploration on Earth and these organisations are willing to pour billions into an exploration mining program in Space !
Onlooker
Exploration on earth all depends on the willingness of the senior firms and mid-tier firms to spend the monies and to finally employ more geologists to carry out the task.
And if the Asteroid miners are planning to blast Asteroids apart for feasible
transport of the pieces, how safe is the population on earth not to be struck by major chunks and their surface impact, should the blasted pieces get out of control and not stay in orbit as previously predicted? – Just a thought on feasibility and environmental studies to be carried out.
CMAC
Larger concentrations of ore will allow for higher profit margins. This allows private companies to get investors easily.
james
i say bring on the astroyds its good for the economy and a chance for us to take a big step in saving our planet…
Jerry
How about an EIS and all the other permits? Need to send the EPA, and Corps of Engineers there first to ensure a that the ecosystem and asterodians are not disturbed.
Frankinca
Who is paying these education institutions to make these kind of claims. It seems the more crazy they are the more people believe they have merit. Are we that gullible??? I guess so. NASA needs a popular mission to keep their budget high, in spite of their contribution to the regular people population at a very low percent of what they are spending. The NIH is high as well as NTA and the SEC which protects us all from problems being generating by people and self serving institutions The same goes for this speculation and the Tesla car. A dream many people are buying like the gold every prospector knows is out there with his/her name on it. What is the % of success? We know the answer!
Onlooker
All ventures and plans to mine asteroids still leave me with the question as to how the operating firm plans to bring the ore down to earth and to the surface without causing ‘friction’, i.e. it would be rather costly to load the ore into a shuttle to safely land the cargo.
Felix
Hi Chris
Mark
How does the stuff get back here ? The meteorite that was filmed in the daytime in Russia was about 2 cubic meters I think . If it was pure iron that would be about 15 tonnes . Caused quite a fuss ! THEN you would need a good truck to find it and pick it up . If they continue with this , it may be a better idea to invest your money in a really big factory that makes REALLY big parachutes
joe blau
Hey Guys, The value of the resource is where it is, not on earth, like nickels man 4.54 grams so 100 to the pound, on Earth, In Space check out the rates to get 1 pound of nickel into say geostationary or extreme, landed price on Lunar Surface .
They have no intention of taking ordinairy stuff back to earth. only rare etc.
PGMs excellent, turn urea into station keeping fuel, zero g electrolysis of water into propellants in ceramics based systems ( read Ballards cells run backwards )
Stop whining about money, watch for the shinystuff at night as the true adventurers get ready to do something usefull. and no, no one is going to land a bunch of pieces of a blasted asteroid on earth, just like no one parks their new car in the dining room or local swimming pool, but it is good to freak out, keeps the neurons fresh, Big things can happen out there, and no they do not need your scaredy cat who is going to pay for my political degree lucky bucks.
You find your bucks, the adventurers will find theirs. watch out for falling stars
we all have our crosses to bear, or burdens as u will. Space is Out there, Go get it.
The Nurse has spoken, Bend over !!!!!