SPACE MINING

[technology-trail]

Luxemburg passes Space Mining Bill

Scientists believed that asteroid and comets are super rich with precious metals at a much higher proportion that those found on the Earth, presumably making up a market valued in the region of Trillions of Dollars.

Futuristic Asteroids Mining base

Asteroid mining is a space exploration where raw materials(minerals) are exploited from asteroids and other minor planets(Near-Earth Objects) and spent comets(Comets at low speed that had presumably travelled great distance) are sources of space mining.

Since mankind wants to become space compatible species, sustainable resources such as water and some minerals should be trappable from then space as it is economically suicidal to transport things needed for survival in the space from Earth.

Asteroid Mining

The challenges of inaccurate data and finding suitable asteroids for mining and extractions of this ore has limited humans to mining precious metals in the earth crust. A much greater problem is the extreme cost of lunching and transporting this precious stones through space-flights back to earth.

But it is a worthwhile effort as :

Gold

Silver

Palladium

Platinum

Tungsten

Nickel

Aluminium

Manganese

and many more richer precious stones can be mined in abundant from asteroids in orbits.

LUXEMBURG GIVES GO AHEAD

One of the Euro Zone's wealthiest country- Luxemburg has become the first European country to pass mining law into the space. The country been pretty active in the space mining campaign, encouraging companies to set up their European Head Quarters within it's borders.

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Image Source: 1- 2&3

Source

Comments

[cipher]

Should be an exciting future. Luxemburg wants to be the pioneer and leader in space mining, let's see who comes to compete.

Maybe trillions of dollars of profit is just the incentive countries need to seriously invest in space travel related tech.

[technology-trail]

You got the vibe mate....It's a futuristic immense wealth!

[prodoe-meshace]

Long past due! Save the earth. Explore the universe. The future is now.

[moemanmoesly]

I have read that there are asteroids worth trillions out there 💎

[oluwoleolaide]

Very true, First paragraph mentioned it too

[metabs]

They are, but mostly is water :P
The problem is that they are "out there", but if it was possible to bring them to earth... only one of them could be quite much more than they whole Earth current production of some precious metals

[technology-trail]

water?...can you elaborate more?

[metabs]

Latest discoverings show that one of the most common constituents of the asteroids is water. That is amazing, even more because it can be used in-site as a resource or as fuel

In addition to the metals, the elements to create water are present in asteroids and there are indications that asteroids contain water or ice in their interiors, and there’s even evidence that water may have flowed on the surface of at least one asteroid. Observations of Vesta from the Dawn mission show gullies that may have been carved by water. The theory is that when a smaller asteroid or comet slams into a bigger asteroid, the small asteroid or comet could release a layer of ice in the bigger asteroid. The force of the impact briefly turned the ice into water, which flowed across the surface, creating the gullies.

https://www.universetoday.com/37425/what-are-asteroids-made-of/

[technology-trail]

On the inside just like the other metals to be mined...