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Youโve gotten hooked on sci-fi movies like Interstellar and modern day explorers like Elon Musk, and now youโre obsessed with the idea of exploring and colonizing space. But one of the bottlenecks of space exploration right now is simple: costs! As long as it takes that much money to launch water, building structures, and raw materials into space – space exploration and space colonies are gonna move at a slow rate. Letโs explore the next trillion dollar industry – Space Mining.
Asteroids are clumps of leftover rock and dust from when the planets were forming in our solar system. Back in 2005, Japanโs Hayabusa spacecraft landed on the surface of an asteroid after a two year flight. The Hayabusa docked on the floating rock for two years, collected a tiny sample of the asteroid along with a ton of data, and started itโs flight back where it returned to Earth in 2010. This mission was what really sparked this new space race for extraterrestrial mining.
The first type of asteroids are ones that contain valuable metals. These types of asteroids are thought to have formed during the formation of planets like ours. Like 16 Psyche for example. The problem with mining metal asteroids is that even if you extracted a bunch of metals, by the time you got it back to Earth, you wouldโve spent more money than it wouldโve cost to just mine the materials here.
The second type of asteroids come in C-types, which contain something that we have plenty of here, but is worth its weight in gold out in space: water. The first entrepreneurs that are able to mine water from asteroids would be able to sell something right away in space that every space traveller will need – fuel.
Because asteroids are so small, theyโre held together by just a tiny amount of gravity. This means engineers have to get a little creative with how they plan on mining. One innovative company paving the way for extracting water out of asteroids is called Trans Astra.
When this new space race for extraterrestrial mining was sparked back in 2010 when Japanโs Hayabusa craft returned – a new startup quickly emerged. Not too long after, Planetary Resources got its own competitor: Deep Space Industries. These two became the icons of the space mining effort.
The days of oil being the hot new thing are far behind us – but space mining? The person that figures out how to do that profitably, will probably become the modern day trillionaire – Rockefeller.
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Copyright ยฉ 2020 Jake Tran. All rights reserved.
DISCLAIMER: These videos are for entertainment purposes only. This is not meant to be financial advice. Please always do your due diligence and never stop learning.
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