{"id":29568,"date":"2012-05-10T22:49:47","date_gmt":"2012-05-11T02:49:47","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/2012\/05\/asteroid-mining-in-space-an-abundant-future-awaits\/"},"modified":"2012-05-10T22:49:47","modified_gmt":"2012-05-11T02:49:47","slug":"asteroid-mining-in-space-an-abundant-future-awaits","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/05\/10\/asteroid-mining-in-space-an-abundant-future-awaits\/","title":{"rendered":"Asteroid Mining in Space: An Abundant Future Awaits"},"content":{"rendered":"

By MoneyMorning.com.au<\/a><\/strong><\/p>\n

What I call the New Space Race is about to \u201ctake off\u201d in a big way.<\/p>\n

And front and centre is asteroid mining<\/strong>.<\/p>\n

Yes, I mean literally digging into asteroids to extract ores and other materials.<\/p>\n

<\/span><\/p>\n

Not long ago, this was the stuff of sci-fi. (It smacks of the 1998 movie Armageddon, in which a team of roughnecks lands on an asteroid on a collision course with Earth in order to blow it out of the sky.)<\/p>\n

Today, it\u2019s a reality, thanks to advances in three fields \u2013 low-cost computing, cheaper rockets, and advanced robotics<\/a>.<\/p>\n

Both private industry and the U.S. government want to extract a wide range of resources from asteroids. They are teeming with resources like iron and nickel. A rock the size of a football stadium contains more platinum than we have mined in all of world history.<\/p>\n

And you won\u2019t believe how much this stuff could be worth.<\/p>\n

Remember, space is a target-rich field. To date we have discovered some 9,000 of these rocks that pass near Earth\u2019s orbit. Of those, about 1,500 are just as easy to get to as the surface of the Moon. Moreover, they have light gravity, meaning space craft can land and take off easily.<\/p>\n

Here\u2019s the math that will blow your mind: A space rock the size of a museum gallery could contain resources worth $100 billion (according to the startup I\u2019m about to tell you about).<\/p>\n

If we hit pay dirt on all the close asteroids, they would be worth a combined $150 trillion. Don\u2019t take my word for it. You can do the math yourself right here.<\/p>\n

No doubt, many of those rocks will be dead ends. But if we could tap just 10%, that would total $15 trillion worth of resources. (And if we\u2019re being even more conservative, just a 1% return would still equal $1.5 trillion \u2013 nearly the value of Canada\u2019s entire economy.)<\/p>\n

Space Mining:
\nWho\u2019s Pursuing All This Untold Wealth?<\/h3>\n

<\/center><\/p>\n

At least two independent groups that include former NASA officials and leading scientists have plans to tap these thousands of big rocks orbiting in our solar system.<\/p>\n

And that\u2019s not all. Obama wants an unmanned mission called OSIRIS-Rex to launch in 2016 and land on an asteroid. OSIRIS would return with resource samples by 2023.<\/p>\n

NASA isn\u2019t just along for the ride. It is casting a wide net in the search for valuable space rocks. The agency has asked amateur stargazers to help find even more near-earth asteroids that show great promise.<\/p>\n

So the question isn\u2019t if we are going to mine asteroids but when.<\/p>\n

And I think investors should keep an eye on Planetary Resources.<\/p>\n

Asteroid Mining:\u00a0
\nA New Paradigm for Resource Discovery<\/h3>\n

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\nThis new startup is on a \u201cmission\u201d to mine asteroids.<\/p>\n

The firm has a solid plan. It will begin by making and selling very low-cost robotic spacecraft for survey missions. The team expects to have a demo craft in orbit around Earth within two years.<\/p>\n

Next comes the key early part of any good mine \u2013 prospecting, the phase in which you find the most valuable spots to drill. That will take between five to 10 years.<\/p>\n

Finally, Planetary Resources will develop the most efficient capabilities to deliver these resources \u2013 everything from water to platinum \u2013 directly to both space-based and Earth-bound customers.<\/p>\n

For cutting-edge tech, there\u2019s another big payoff \u2013 rare earths<\/a>. These are the unique elements needed for such products as smart phones and iPads. China controls 97% of the rare earths on Earth. But they don\u2019t control outer space\u2026<\/p>\n

Not only does Planetary Resources have tons of money behind it; it also benefits from a team of top-tier leaders focused on success.<\/p>\n

This is a group of billionaires who know firsthand how much focus and energy it takes to succeed.<\/p>\n

Planetary Resources boasts a cast of big-name backers with a track record for creating wealth \u2013 and not just the standard scientists, astronauts, and entrepreneurs you might expect. I\u2019m talking about true visionaries, like:<\/p>\n