How much money does nasa need to mine astroids?

Micheal Greenholt asked a question: How much money does nasa need to mine astroids?
Asked By: Micheal Greenholt
Date created: Sun, Apr 25, 2021 1:38 PM
Date updated: Thu, Jun 23, 2022 9:09 AM


Video answer: How much money is space worth?

How much money is space worth?

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The costs involving an asteroid-mining venture have been estimated to be around US$100 billion in 1996. There are six categories of cost considered for an asteroid mining venture: Research and development costs. Exploration and prospecting costs.

Video answer: How valuable is asteroid mining?

How valuable is asteroid mining?

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NASA Doesn’t Receive Enough Money for Mandated Asteroid Search In 2005, the US Congress mandated that NASA discover 90 percent of all near-Earth objects 140 meters in diameter or greater by 2020.

However, it currently costs hundreds of millions to billions of dollars to build and launch a space mission, so innovations that would make these costs fall dramatically are needed before it is profitable to mine asteroids for the value of their metals alone.

NASA wants to study, and not weirdly mine, a supposed $10 quadrillion worth asteroid. According to a recent report by The Daily Star, NASA is planning to send an expedition to the asteroid Psyche 16 by 2026. But this asteroid is no mere giant space rock.

A Caltech study put the cost of an asteroid-mining mission at $2.6bn – perhaps not surprisingly the same estimated cost of NASA’s erstwhile ARM. It might sound a lot, but a rare-earth-metal mine has comparable set-up costs of up to $1bn and a football-field-sized asteroid could contain as much as $50bn of platinum.

There’s Big Money to Be Made in Asteroid Mining See the full version of the infographic. If humans were ever able to get their hands on just one asteroid, it would be a game-changer. That’s because the value of many asteroids are measured in the quintillions of dollars, which makes the market for Earth’s annual production of raw metals – about $660 billion per year – look paltry in ...

“They also don’t need much energy to land on. It’s easier than a trip to the surface of the Moon.” These near-Earth asteroids could act as off-world ‘gas stations’.

For instance, it has been estimated that a one-kilometer diameter asteroid could contain about 7,500 tons of platinum, worth more than $195 billion. By mining the asteroids, we have the opportunity to return those precious metals and minerals to Earth – and potentially the Moon and Mars – for further consumption.

When we look at what might be mined in space and the number of factors involved in mining we conclude that mining gold makes the most sense early on. The world produces 3100 metric tons of gold per year occupying 160.6 cubic meters which is valued at $173.7 billion per year for the refined product at present.

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