Robots, Platinum, and Tiny Space Telescopes: The Pitch for Mining Asteroids

See on Scoop.itTracking the Future

A lot has been written about the business prospects of Planetary Resources, Inc., the billionaire-backed space venture that recently announced its intention to mine platinum, and other metals, from near-earth asteroids. The firm claims that a single successful mining mission could bring it tens of trillions of dollars in revenue, and could potentially supply the raw materials for generations of computing devices.

These are ambitious goals, but not everyone is convinced that Planetary Resources can muster the technology or the staying power to reach them. The firm’s critics have pointed out that flooding the market with asteroid-sized quantities of platinum, which currently sells for over $1,500 an ounce, could reduce its price considerably, endangering the business model of the entire enterprise. But even if Planetary Resources falls flat on its face, a serious (and seriously funded) attempt at asteroid mining could have interesting collateral effects—it could, for instance, entirely remake the way that we do science in space.

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