Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
While many still see space mining as science fiction, the development of a resources industry and manufacturing supply chain out off-Earth is both plausible and beneficial, according to former NASA researcher and current University of Central Florida professor Dr. Phil Metzger.
In an extensive proposal released earlier this month, the academic — whose work at NASA included developing Lunar and Martian architecture — says that the main challenge for mining near-Earth celestial bodies is neither technology nor cost, but simply “convincing people it is realistic.”
The main challenge for space mining is neither technology nor cost, but simply convincing people it is realistic — Dr. Phil Metzger.
Metzger also argues that taking mining beyond this world would be beneficial for the economy, the environment, and science, adding that making it a reality would take up about 3% to12% of NASA’s budget each year for the next few decades.
The researcher even describes a three-stage plan to achieve what he calls a Self-sufficient Replicating Space Industry, or SRSI, in which mainly robotic mining operations would extract resources that would be transformed into useful goods at robotic manufacturing facilities located out of this world.
Geologists believe asteroids are packed with iron ore, nickel and precious metals at much higher concentrations than those found on Earth, making up a market valued in the trillions of dollars.
Not only private companies are planning to mine celestial bodies. Governments have joined the race too — US President Barack Obama signed a law in November granting American citizens rights to own resources mined in space. Shortly after, Luxembourg inked a deal with two US space research companies, in an effort to become a global centre for asteroid mining.
11 Comments
Bruksmentalitet
Well, if these mines are anything like the wonderful Lunar and Martian architecture, what could go wrong?
They’re called academics for a reason.
Luke Parrish
There is no lunar or martian architecture.
LAMB
Time for Mining & Geological Engineers to comment on the Feasibility of Mining Asteroids, etc. We have not established that there are attractive targets in ‘space’ to attract Miners. Note that the article states “Geologists believe asteroids are packed with iron ore, nickel and precious metals ………” Who are these ‘Geologists’, besides the “Academic mentioned above who has never Mined anything ???
Krusty1234
Yes some asteroids contain primitive solar system remnants that contain high concentrations of certain metals. It is this concentration of metals that helps distinguish an extraterrestrial occurrence from a terrestrial occurrence on Earth – these occurrences (relatively rare) are our best glimpse of asteroid composition.
You hit the nail on the head with your last comment. NASA has done some great research for certain industries, but mining isn’t one of them. Transportation costs as we speak are often the death knell for many mining projects right here on earth. I would welcome Dr. Metzger to reconsider logistical costs of any space mining endeavour, if he has at all in the first place.
Perhaps he can shout down the hall to other NASA academics who have certainly provided their own influences on “weather” alternative energy methods are also economically feasible.
MiniBulk Inc.
There is! http://www.asterank.com/
Luke Parrish
Water is an attractive target.
David Boleneus
Besides, says this geologist, the Cardasian pirates are also lurking out there, ready to steal “mineral cargo” that’s never been established. Sounds like two strikes against this venture already. Let me understand, NASA says we can go out there to mine but we don’t know what’s there or where out there is. That’s typical government for you.
MiniBulk Inc.
All the talk about “can we do it”, but what about the “should we do it?” What happens to the markets if a company comes back from space with X tonnes of pure gold, platinum, or REMs? Imagine every week, a new ship lands on Earth completely disrupting the current supply and demand models we use now. “We’re going to invest $2B into this Iridium/Osmium/Palladium venture and oh crap, Space Miners Inc. just dropped 10 tonnes of pure REMs into the market and we’ve tanked the stock.” So many variables, but I would love to live long enough to see how it all plays out, that is for sure!
moyo
No end to Man’s greed.I hope we shut down the moon and sun by our quest for riches.What are the side effects of space mining?
Anopheles
Reality is that rare metals and minerals on earth are just as rare in space. Likewise the most common, CHEAP minerals and metals on earth are the same ones found in space. The most common is iron ore.
A million tonnes of iron ore on earth costs about 20 million dollars to produce. That won’t even get a rocket off the ground.
Rare elements and minerals? What cost to refine them in space? Considering the concentrations in space are similar to concentrations found on earth, meaning huge volumes of waste material must be processed to get tiny amounts of your valuable products. Just like on earth, but at thousands of times the cost.
WSMCR
There are companies right now that are making this a reality, and will be doing some of their first test missions in a few years time. Millions are already being poured into this by investor and national interests, so one way or another this will be tried.
Two main companies exist: Planetary Resources and Deep Space Industries. Both have some form of prospecting mission a few years away to get a better answer on the actual mineral content of these asteroids. There are plenty however who’s rare earth elemental content is beyond question.
Our organization wishes to allow the space resources of our solar system be attainable to everyone, so we have set up a claim registry. You can learn more at http://www.WSMCR.org We Believe that if enough of us make claim to space resources, we can make this a recognized reality down the road with international treaty when the reality of space mining is more present. Thanks for looking!