Humanity Future in Space Depends on Asteroid Mining

Mining & Minerals - Evaluations / Off-World Exploration, Mining, & Technology

Date posted: 05/29/17

Jolene Creighton reported that governments around the globe are teaming with private companies in order to make asteroid mining a reality. Experts assert that we could be engaged in mining operations within the next decade. Here is a breakdown of how we will do it, and why we need develop these resources...albeit with all appropriate planning. Planetary Resources CEO Chris Lewicki asserts whether it is the air we breathe, the water we drink, the materials that we build things with, or ultimately, of course, the food that we eat, all of these things are available to us on this planet, but when we head into space, we have them with us. That of course, is not very scalable. NASA states that space exploration will be reliant upon what we can mine in space. The metals and minerals found on asteroids will provide the raw materials for space structures, and comets will become the watering holes and gas stations for interplanetary spacecraft. To that end, a host of governments and private companies are already working on asteroid mining projects. Luxembourg recently established a $220 million fund for space mining projects; the U.S. signed the Commercial Space Launch Competitiveness Act into law (which recognizes the right of U.S. citizens to own asteroid resources); and private companies like Planetary Resources and Deep Space Industries have a number of technologies in production to help humanity mine in space. But how long will it really take us to get there? just ten years until we are mining our first asteroid. Of course, there are a lot of things that need to happen in order for this ten-year time frame to be met, but large investments have been made. The first concern is establishing clear regulations regarding asteroid mining. For example, who really owns asteroids? Can anyone just venture space with a flag and stake a claim? Looks now like it is the Wild West again and you can bet China and Russia will be there with guns onboard. The 2nd Space Race is on ...