Is asteroid mining feasible?

Asteroids are a class of small rocky and metallic bodies orbiting the sun. However, asteroid mining is currently only viable as a long-term solution; currently, the infrastructure and techniques needed to mine and refine asteroid resources is under development, making short term returns unlikely for mining companies.

Do asteroids have minerals?

Minerals that can be found in asteroids are: iron, nickel, iridium, palladium, platinum, gold, and magnesium to name a few. Metal, however, is not the only thing that would be mined from asteroids. There is a certain interest in the mining of water.

How would Asteroid Mining help the environment?

As a side project, space mining can grab water from the rocks and comets — water which, with a little processing makes rocket fuel. Which in turn makes even more currently unimaginable space operations possible, including ones that could give the planet all the energy it needs to avert climate catastrophe.

What are the cons of asteroid mining?

Uncertainty on types of ore

• unknown substance in ore.
• uncertainty on quality of ore from space.
• risk on human in future.

How asteroid miners work?

Miners on asteroids would use techniques similar to those used on Earth. The most likely method would be to scrape desired material off the asteroid, and tunnel into veins of specific substances. Scraping, or strip mining, will pull out valuable ore that will float off the asteroid.

This study states that asteroid mining is feasible as long as three major advances are in place- development of an efficient solar/electric propulsion system, development of a campaign to discover and target potential asteroids, and the establishment of a human presence in lunar orbit (“Is Asteroid Mining Possible?”, 2012).

How much is an asteroid worth?

A single asteroid could be worth hundreds of millions of dollars, or more, if humans could overcome the formidable challenge of harvesting it. Bringing rare metals to Earth is not the only possible use for asteroid-derived materials. Building equipment on Earth then lifting it into space is, in fact, expensive.

Could sourcing materials from asteroids be the future of space construction?

Now, in the midst of a new privatized space race and a global rare metal shortage, companies are revisiting the possibility of sourcing materials from outer space. A single asteroid could contain trillions of dollars’ worth of precious metals, and sourcing materials from asteroids could enable large-scale construction in space.

Can We harvest materials from asteroids?

If the materials found in asteroids could be processed into a useable form in space, it would remove a major barrier to large-scale construction and exploration. Harvesting an asteroid sounds exciting. Yet the reality is that, so far, humans have barely harvested a few dust particles from actual asteroids.

Asteroid mining is technically feasible right now. The technologies needed to get the job done all exist. But using current technologies in their current forms would be insanely expensive and wouldn’t necessarily yield a whole lot of profit. In fact, they’d more likely operate at a loss.

Why is NASA sending a mission to an asteroid?

“However, the mission will develop important technologies for asteroid exploration that will benefit anyone interested in exploring or mining asteroids, whether it’s NASA or a private company,” said Lauretta.

Is it possible to travel to the asteroid belt?

Admittedly, the asteroid belt is a long way away. But distance isn’t the problem. Getting around in space is embarrassingly easy; it’s leaving Earth that’s a pain. When we think of space travel, we usually imagine huge, and more importantly expensive, rockets.

Is near-Earth Asteroid mining the next step in human progress?

Near-Earth asteroid mining is the next step in human progress, though, according to some, and we’ve heard the progress trumpeted for years.