Asteroid Mining: Not as Crazy as it Sounds

geologyforinvestors.com ^ | Christopher Rawluk

[BenLurkin]

At first glance it sounds ridiculous. Why would anyone consider mining in space when even the largest Earth-based mining operations seem to have trouble managing costs? After all, mid-grade and marginal deposits seem to have trouble finding any money and the process of moving a project from prospect to mine can take decades and cost hundreds of million of dollars. I’ll be the first to admit that the whole idea of asteroid mining was initially right up there with Star Trek-style transporters and desktop cold fusion, but a few recent events have piqued my curiosity on the subject.

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Asteroid miners are seeking out near-earth asteroids. There are over 11,000 known near-earth asteroids which are considered to be left-overs from the formation of the solar system. These bodies can be composed of ice, silicate minerals, carbonaceous minerals and metals.

Water is present in some times of asteroids and a key potential commodity for asteroid mining. (Image credit: NASA, ESA, M.A. Garlick (space-art.co.uk), University of Warwick, and University of Cambridge.)

Ice or water on these bodies is one of the most significant potential resources. Solar panels on spacecraft can provide the power to simply convert water to hydrogen and oxygen for fuel. Considering that it costs from $5,000-25,000+ per kg to ferry items into space, the idea of harvesting resources needed in space doesn’t sound like such a bad idea. In fact, the groups involved are primarily focused on gathering the resources needed for space exploration and development. Gathering resources to send back to earth is a much longer term goal and arguably may never be economic.

[Jonty30]

That is true, but those are merely problems to be solved. Every advance that we have made had problems that were once insurmountable.

However, once we started to explore the issue, we’ve overcome the problems. I’m not saying it is easy, just doable.

[Jonty30]

I don’t think Allen, Musk, Branson invest in things they don’t think will eventually pay off big.

Space tourism is just a stepping stone to what they really want to do.

[sphinx]

It’s not ridiculous. They estimate that large asteroids are just chock full of billions of dollars of rare metals that, if broken down and carried back to earth, it would pay for the trip itself.

You are forgetting the cost of running preliminary missions over a 15 year period for the purpose of completing the environmental impact statements, then the litigation, and then the cost of reclamation and restoration to original contours.

[Olog-hai]

No, since “geology” is derived from Greek γε and not Latin terra. The derivation is similar to how the name George is derived from the Greek word for “farmer” or (literally) “earthworker”, which is γεοργος.

[mikrofon]

Areology?

[Olog-hai]

From Ares, yes.

[PapaBear3625]

How can it be “geology” when that term is specific to planet Earth?

Because "astrology" is already taken.

[Olog-hai]

That’s OK since “aster” is Greek for “star”. “Edaphology” (study of soil) is also taken; another possibility is “chomology”, but that might be confused with “cohomology” (unless you spell the latter “co-homology”).

[Axenolith]

Obviously the general usage has changed to reflect other solid bodies outside of earth though.

Geology of the Terrestrial Planets

I had that as a textbook in college, oddly enough a friend of Pops over at JPL gave him a copy a year or so before it came out which saved me a chunk of over priced textbook cost!

[Axenolith]

BTW, that’s a free download now, and a good addition to anyone’s reference material.

[tet68]

another possibility is “chomology”, but that might be confused with “Choomology”. Our president is well versed
in that branch.