$700 Quintillion Asteroid Ignites Space Mining Gold Rush Between Mars And Jupiter Asteroids In Space
Chris Mahon
Monday, 12 February 2018 - 11:19AM
Chris Mahon
Monday, 12 February 2018 - 11:19AM
The asteroid Psyche 16 is a about $92 billion each. You read that correctly—$92 billion each. This asteroid has the potential to make us all richer than the Pharaohs—or, you know, crash the world economy.
Psyche 16 lies between , the President of the Royal Astronomical Society:
"The timeline for space mining is the $64,000 question. My opinion is probably 25 years for a 'proof of concept' set-up, and 50 years for a commercial start. But there are so many uncertainties—mostly based around economics and the progress of space technology."
Zarnecki speculates that asteroid mining will gain momentum once rare metals start to run out, especially those used in microelectronics and mobile phones.
As soon as the prices of those metals reach unsustainable heights, asteroid mining will start to make sense economically.
We've already noted that Luxembourg is preparing to make itself last year.
One of these space exploration companies, proposed earlier this year: a group of small satellites that scout out different areas for mining and pave the way for another wave of robots to carry out the actual mining and collection.
Between Psyche 16's untold wealth, Elon Musk's growing space empire, and China's in the coming decades, it looks like we're poised to enter a new space age—or Blade Runner's dystopian future.
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