SPACE MINING :
Sustainability and Profitability Combined
Clay Killingsworth , author of a new report for Guidehouse , explains the incredible opportunities and challenges associated with space mining
WRITTEN BY : SCOTT BIRCH
From Jeff Bezos to Captain Kirk , hypersonic missiles to concerns about climate change – space is out there in a way not seen since the Moon landings .
According to recent analysis in The Planetary Science Journal , two near-earth asteroids could contain precious metals worth US $ 11.65 trillion – more iron , nikel and cobalt than exists on earth . If that doesn ’ t get you excited , how about 16 Psyche , an asteroid that NASA intends to visit in 2022 , worth an estimated US $ 10,000 quadrillion . According to Forbes , the entire net wealth on planet Earth in 2021 stands at less than half a quadrillion dollars .
Little wonder then that mining organisations the world over may be interested in the opportunities , and realities , of space mining – outlined in a new report from Guidehouse .
The report titled ‘ Space Mining Can Enable Sustainable Travel Both On And Off Earth ’ was written by research analyst Clay Killingsworth , and he spoke exclusively with
Mining Global about how space mining can provide this sustainable future while also looking at the complexities , challenges and super-rich opportunities .
Q . The title of the report is making travel sustainable on and off earth – explain what that means ? A . The title refers to the applications of two of the prime targets for space mining operations : water and rare earth elements ( REEs ). Rare earths are metals that are critical to manufacturing , among other things , highefficiency batteries and computer chips . Demand for electric vehicles , utility-scale electricity production and storage , and the Internet of Things can only be met with increased REE production .
While REEs are found throughout Earth ’ s crust , these elements are characterised by ready dispersion into surrounding materials such as soil and water , unlike other metals such as copper or gold that aggregate into veins . Because REEs are present only in low concentrations on Earth , mining them is often prohibitively costly .
However , these elements may be present in much higher concentrations on asteroids or other celestial bodies where chemical and mechanical forces cannot dilute them . Substantial amounts of REEs also exist in Earth ’ s orbit in discarded rockets , scrapped space stations , and end-of-life satellites . These elements are already in near-usable
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