New Planetary Resources Company Plans to Mine Asteroids for Rare Minerals, Water
April 24, 2012 1:43 PM
The company has investors like Google and filmmaker James Cameron
A new company that is backed by the likes of Google and filmmaker James Cameron announced today that it plans to mine
asteroids orbiting near Earth
for precious gold, platinum and rare metals/minerals.
Planetary Resources, a company that plans to expand Earth's resource base, was founded earlier this year by Peter H. Diamandis, who also founded the X PRIZE Foundation for breakthroughs that benefit humanity, and Eric C. Anderson, who also co-founded commercial spaceflight company Space Adventures.
Washington-based Planetary Resources has a long-term goal of mining rare minerals from
orbiting Earth, but one simply cannot jump to such a lofty goal. The company has a plan for getting to that point, however.
The first step is to develop a low-cost robotic spacecraft for surveying missions. In fact, it wants to cut the cost of deep-space robotic probes to one-tenth to one-hundredth of the cost of current probes. The company plans to do this by adding certain technology like optical laser communications to the probes, which will eliminate large radio antennas.
Planetary Resources plans to
launch its first probe
within two years, where NASA and other national agencies are expected to be among the first commercial customers.
Within 10 years, the company will slowly delve into space mining of various sorts. In addition to searching for rare metals, Planetary Resources hopes to extract water from asteroids in order to produce hydrogen fuel for future space missions.
According to Diamandis, a 98-foot long asteroid could potentially hold as much as $25 billion to $50 billion worth of platinum.
"If you look back historically at what has caused humanity to make its largest investments in exploration and in transportation, it has been going after resources, whether it's the Europeans going after the spice routes or the American settlers looking toward the west for gold, oil, timber or land," said Diamandis.
"Those precious resources caused people to make huge investments in ships and railroads and pipelines. Looking to space, everything we hold of value on Earth - metals, minerals, energy, real estate, water - is in near-infinite quantities in space. The opportunity exists to create a company whose mission is to be able to go and basically identify and access some of those resources and ultimately figure out how to make them available where they are needed."
Planetary Resources has not yet released the amount of money poured into the mining venture at this point, but large names like
filmmaker James Cameron
, former Microsoft chief software architect Charles Simonyi, and Google co-founders Larry Page and Eric Schmidt are among those investing in the project.
"If you look at the last five years, if you look at what major innovations have occurred in computing technology, every single one of them came from AMD. Not a single innovation came from Intel." -- AMD CEO Hector Ruiz in 2007
NASA: SpaceX Dragon Expected to Leave for ISS on April 30
April 17, 2012, 10:22 AM
James Cameron Completes Solo Dive to the Deepest Part of the Ocean
March 26, 2012, 10:51 AM
Odds of Earth Getting Slammed by Asteroid in 2182 is About 1-in-2000
August 1, 2010, 7:00 PM
Small Asteroid Flirts With Earth Impact, Raises Awareness of Dangers
January 13, 2010, 1:20 PM
PIQ ROBOTTM reveals its new artificial intelligence software
November 29, 2016, 12:59 AM
One more time - Happy Thanksgiving to Everyone Around the World
November 24, 2016, 4:00 AM
Google’s Smart Contact Lens Project gets halted for 2016
November 20, 2016, 7:00 AM
Cell Research Study shows African Americans have greater immune response to infection
November 10, 2016, 1:00 AM
UTHealth Clinical Trial Shows Progress Using Stem Cells to Treat Traumatic Brain Injury
November 8, 2016, 1:00 AM
Uber Partners with Circulation to Pilot Program Connecting Transportation and Digital Health Care
November 6, 2016, 5:00 AM
Most Popular Articles
Comparison – Samsung Galaxy TabPro S Vs Microsoft Surface Pro 4
March 21, 2017, 7:40 AM
Apple iPad – New Faster Processor and More Fun
March 22, 2017, 7:25 AM
Gigabyte GA-Z170X-Gaming G1 – Intel Thunderbolt 3 Certified Motherboard
March 9, 2017, 6:25 AM
Huawei P8 Lite 2017 – Android 7 Nougat Smartphone with Octa-Core Processor
March 8, 2017, 7:03 AM
Lenovo ThinkPad T460 - Ultra-Thin and Feather-light
March 3, 2017, 6:00 AM
Latest Blog Posts
Are you thinking of performance and speed? Intel claims:
Mar 25, 2017, 7:45 AM
Apple buys an automation app called Workflow. The deal was completed today and brings the app along with its developers.
Mar 23, 2017, 7:35 AM
Apple Announces new color for iPhones and iPads
Mar 22, 2017, 7:45 AM
Instagram: You Can Now Save Live Videos For Later
Mar 21, 2017, 7:49 AM
Samsung Galaxy S8 to Get New Color Scheme
Mar 20, 2017, 7:45 AM
What else to worry about?
Mar 17, 2017, 6:45 AM
Icon of the Day: Intel/ NVIDIA or Mobileye
Mar 16, 2017, 6:15 AM
JUST IN - Twitter Hijacked : High-Profile Account Accesses
Mar 15, 2017, 7:07 AM
Mar 14, 2017, 7:30 AM
News and Tips
Mar 13, 2017, 6:30 AM
iPhone 8 – May Not Get Curved Screen
Mar 11, 2017, 8:00 AM
California paves way to self-driving car tests without humans
Mar 11, 2017, 7:18 AM
Smart Machines V hackers
Mar 10, 2017, 7:00 AM
Uber Can Resume Autonomous Car Testing in California
Mar 9, 2017, 6:50 AM
Mar 8, 2017, 7:09 AM
Mar 7, 2017, 8:45 AM
World news 3-6
Mar 6, 2017, 5:40 AM
Mar 4, 2017, 7:40 AM
Mixed News of the Day
Mar 4, 2017, 6:32 AM
Jaguar Land Rover invests in ride-sharing
Mar 3, 2017, 7:00 AM
Mixed News of The World:
Mar 2, 2017, 7:02 AM
World New 3-1
Mar 1, 2017, 6:30 AM
More Blog Posts
Copyright 2017 DailyTech LLC. -
Terms, Conditions & Privacy Information