hows that for a cheesy sub-headline. But it’s true. Not only do they have billions (which we poor-ish techies want) but now they are going to be able to not only venture to places we wish we could go but capitalize on it financially. Shat. I need some ice cream.
A group of wealthy, adventurous entrepreneurs will announce on Apr. 24 a new venture called Planetary Resources, Inc., which plans to send swarms of robots to space to scout asteroids for precious metals and set up mines to bring resources back to Earth, in the process adding trillions of dollars to the global GDP, helping ensure humanity’s prosperity and paving the way for the human settlement of space.
“The resources of Earth pale in comparison to the wealth of the solar system,” said Eric Anderson, who founded the commercial space tourism company Space Adventures, and is co-founder of a new company along with Peter Diamandis, who started the X Prize foundation, which offers prize-based incentives for advanced technology development.
The first hurdle will likely be ensuring that Planetary Resources has covered all its legal bases. While some have argued that governments need to set up specific property rights before investors will make use of space, the majority of space lawyers agree that this isn’t necessary to assure the opportunity for a return on investment, said space policy analyst Henry Hertzfeld at George Washington University in Washington D.C. Mining occurs in international seabeds — even without specific property rights — overseen by a special commission dedicated to the task, he said. A similar arrangement would likely work in space.
In terms of extraction, Planetary Resources hopes to go after the platinum-group metals — which include platinum, palladium, osmium, and iridium — highly valuable commodities used in medical devices, renewable energy products, catalytic converters, and potentially in automotive fuel cells.
Here is a short and rather pointless video on the subject…