US Strategic Metals gains approval for $100.8m loan program
USSM is planning to mine what it considers to be the largest cobalt reserve in North America.
California-based AstroForge, a pioneer in the field of space mining, is preparing to launch the first fully commercial deep-space mission with the ambitious goal of harvesting precious metals from asteroids. CEO Matt Gialich envisions a future where mining in space alleviates Earth’s resource constraints by tapping into the vast, untapped deposits found on asteroids and other celestial bodies.
In a conversation with MINING.COM’s host Devan Murugan, Gialich said that AstroForge’s unique positioning in space will enable the company to achieve profit margins superior to traditional, earth-based mining, largely due to the abundance and purity of space resources.
Gialich also emphasizes that this mission isn’t just about profit — it’s also a response to pressing environmental concerns. On Earth, mining for precious metals is one of the most polluting industrial processes, consuming enormous energy and generating significant waste, Gialich says. AstroForge aims beyond Earth’s ecosystem, reducing environmental harm while meeting humanity’s growing demand for critical materials, essential in technology and manufacturing.
The company’s venture, if successful, could revolutionize resource acquisition by creating a sustainable supply chain that reduces reliance on Earth’s finite resources. Through this approach, Gialich and AstroForge hope to demonstrate the viability of space-based mining, ultimately making it possible to support human life on Earth without compromising the planet’s ecological balance.
Watch the full interview:
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