Galactic Gold Rush: Space Mining Could Make The World’s First Trillionaire

- in My World
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spaceArtist’s impression of mineral mining on far planet

The following trillion-dollar industry is going to be in the mining sector, while the first trillionaire in the world is going to make his or her fortune with mining in the outer space, according to a 2017 report from Goldman Sachs.

The renowned astrophysicist named Neil deGrasse Tyson echoed the prediction, saying that the primary trillionaire that there is ever going to be is a person that will exploit natural resources on the asteroids.

He added:

There’s this vast universe of limitless energy and limitless resources. I look at wars fought over access to resources. That could be a thing of the past, once space becomes our backyard.

The space agency NASA is already identifying over 12,000 asteroids that are about 45 million kilometers of the planet Earth. According to geologists, the asteroids are, in fact, packed with nickel, iron ore, and some precious metals which are much highly concentrated than the ones found on our planet.

Goldman constantly observed the improvements in the mining technology closely, together with some trends towards the lower costs meant for the manufacturing spacecraft.

In the 2017 report, Goldman said that while psychological barriers to the mining of asteroids are high, the technological, together with the financial barriers are much lower.

It added:

Prospecting probes can likely be built for tens of millions of dollars each and Caltech has suggested an asteroid-grabbing spacecraft could cost $2.6 billion.

Some private sectors and interests led the process of asteroid mining; however, there is also the country of Luxemburg that sees huge hopes and opportunities to become the cosmic mining space. In 2017, the small country in Europe, which is also the home of a few communication satellite companies, has established the so-called Space Resources Initiative.

Now, it has some plans to give about $223 million from its national budget in early-stage funding, and it also grants to some companies that work towards space mining.

The Luxembourgian government works closely with only two leading companies in this sector, which are Planetary Resources and Deep Space Industries. The two companies, which were operational for only a few years, have some plans to profit from mining asteroids.

The small country contributed undisclosed amounts of development funding and research to the company Deep Space Industries, and even established its deal with the Planetary Resources company, in 2016, for about $28 million investment, which was in exchange for the company’s undisclosed equity.

The minister of economy, and the deputy prime minister of Luxembourg, named Etienne Schneider, said that their purpose is to finally put in place the complete framework for commercial use and exploration of resources from some ‘celestial bodies’ like asteroids, or even from our Moon.

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Image Credit: Shutterstock (licensed by IBMN)/By Nomad_Soul

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