Space Mining: The ultimate intergalactic treasure hunt!
My mind has been fixated on Vibranium for a while and the prospects of it being real. It would be a great game-changer to find a material that crazily absorbs and dissipate vibrations and kinetic energy. Binge-watching Marvel movies is probably having a toll on me but hear me out! There is no known material on Earth that works explicitly like Vibranium. So what if our ultimate metal is not here but in Space; after all, a meteorite brought it to Wakanda too!
The idea of all of these possibilities swirling around in my head is what really gets me excited about the potential of space mining. The thrill of discovery and exploration, as well as the potential for wealth and technological advancement, make it one of the greatest challenges for humanity to undertake in space. As thrilling as our quest for new worlds and the possibility of alien life.
Space mining is the process of extracting resources from bodies such as the Moon, asteroids, and other planets. It may sound like something straight out of a science fiction novel, but space mining is a real industry that is rapidly gaining attention and investment.
So what exactly is there to mine in space?
Well, asteroids and other stellar bodies are thought to contain a wide variety of resources, including water, precious metals, and rare earth elements. These resources could potentially be used to support space exploration and human settlements, as well as to meet the growing demand for resources on Earth.
But space mining isn’t just about scooping up rocks and hauling them back to Earth. It also involves developing new technologies and infrastructure to support the extraction, processing, and transportation of these resources. This includes everything from robotic miners and space-based processing facilities to interplanetary supply chain logistics.
The market value of these activities amounted to some 712 million U.S. dollars worldwide in 2017, and is forecast to increase to 3.9 billion U.S. dollars by 2025. — Statista
So, get ready, earthlings! The future of resource acquisition is out of this world. With the need for resources on the rise and the cost of space exploration plummeting, it’s only a matter of time before space mining becomes the hot new industry.
What have we found so far?
These stellar bodies come in three main flavors: C-type (greyish, made of carbon compounds), S-type (greenish to reddish, iron and magnesium silicates plus some pure nickel and iron and platinum group metals), and M-type (reddish, pure nickel and iron with some platinum group metals). One single, platinum-rich asteroid 500 meters wide could contain 174 times the annual global output of platinum and 1.5 times the known world reserves of platinum group metals.
Don’t forget about the water on C-type asteroids — it’s crucial for keeping humans alive in space and can be used as oxygen for rocket fuel. Even the rock of asteroids can be valuable as building material to protect against radiation. Asteroids offer plenty of opportunities for space mining and the exploitation of their extraterrestrial resources. Some asteroids are estimated to contain raw materials worth over one hundred billion dollars!
Examples of these asteroids include:
16 Psyche: This space rock, found in the asteroid belt between Mars and Jupiter, is made up mostly of iron and nickel and is thought to be the exposed iron core of a former planet. Its estimated value? Trillions of dollars.
- 2011 UW158: Discovered in 2011, this asteroid is believed to have a large amount of platinum group metals, which are extremely valuable. Its estimated worth? Billions of dollars.
- Bennu: This asteroid caught the attention of NASA’s Osiris-REx spacecraft when it visited in 2018. It’s thought to have water, organic molecules, and other materials that could be valuable for future space endeavors.
- Ryugu: The Japanese Hayabusa2 spacecraft paid a visit to this asteroid in 2018, and it’s thought to have water and other materials that could be valuable for future space missions.
- 433 Eros: Located in the asteroid belt between Mars and Jupiter, this rock and metal asteroid is believed to have valuable minerals. Its estimated value? Billions of dollars.
- Davida: a type of carbonaceous chondrite, is a treasure trove of valuable materials including nickel, iron, cobalt, water, nitrogen, hydrogen, and ammonia.
Do you know what this means to us on Earth? RELIEF!
Apart from the adventure, access to an abundance of resources, technological advancement, and economic benefit. The self-sufficiency and environmental benefits give relief, a great step toward a “Greener Earth”. This could help to reduce humanity’s reliance on Earth-based resources and make us more self-sufficient as a species and potentially reduce the environmental impact of resource extraction on Earth by providing alternative sources of materials.
According to the United States Geological Survey, the mining industry is a significant contributor to global greenhouse gas emissions, accounting for approximately 8% of total global emissions in 2017. The industry is a major source of carbon dioxide (CO2) emissions, specifically, accounting for about 12% of global CO2 emissions. The mining industry also generates methane and nitrous oxide, and the extraction and processing of minerals and transportation of materials contribute to these emissions. The mining industry’s contribution to global warming is significant and reducing these emissions will be important in addressing climate change.
Challenges facing space mining include technological restraints, cost, safety and health risks, environmental concerns, and legal and regulatory issues. This issue includes questions of property rights and jurisdiction.
In the meantime, space mining remains a fascinating and exciting field that is full of possibilities and challenges. So if you’re a fan of all things space-related and you’re looking for a career that’s out of this world, space mining might be the perfect fit for you. Just make sure to bring your space suit and your best space-mining jokes (yes, there is such a thing).
