by Chris Peterson » Thu Jun 28, 2018 2:39 pm
Boody wrote: ↑Thu Jun 28, 2018 2:11 pm
BDanielMayfield wrote: ↑Tue Jun 26, 2018 9:57 pm
This Earth crossing asteroid is being eyed for potential mining operations:
As of May 2018, according to the Asterank website, operated by Planetary Resources, the current value of Ryugu for mining purposes is speculated to be US$82.76 billion, and the chemical composition of the asteroid is claimed to be of nickel, iron, cobalt, water, nitrogen, hydrogen and ammonia.
You can imagine what wide scale asteroid mining will do to the metals markets. 16 Psyche is the prize here, it's a big chunk of iron and nickel and likely lots of other good stuff. Gold, silver, platinum, etc. prices would drop like crazy. Countries with gold stockpiles will find them comparatively worthless. I don't think any country would even try it considering these repercussions, or would at least divest well in advance.
Almost everything the asteroid is made of is much, much cheaper to mine on Earth (and is generally abundant here). It's going to be a long time before asteroid mining is going to make sense for iron, nickel, or precious metals. I expect any movement in that direction will be towards rare earths, which are in increasing demand and are largely controlled by just a few countries.
[quote=Boody post_id=283673 time=1530195086]
[quote=BDanielMayfield post_id=283636 time=1530050230 user_id=139536]
This Earth crossing asteroid is being eyed for potential mining operations:
[quote]As of May 2018, according to the Asterank website, operated by Planetary Resources, the current value of Ryugu for mining purposes is speculated to be [b]US$82.76 billion[/b], and the chemical composition of the asteroid is claimed to be of nickel, iron, cobalt, water, nitrogen, hydrogen and ammonia.[/quote]
[/quote]
You can imagine what wide scale asteroid mining will do to the metals markets. 16 Psyche is the prize here, it's a big chunk of iron and nickel and likely lots of other good stuff. Gold, silver, platinum, etc. prices would drop like crazy. Countries with gold stockpiles will find them comparatively worthless. I don't think any country would even try it considering these repercussions, or would at least divest well in advance.
[/quote]
Almost everything the asteroid is made of is much, much cheaper to mine on Earth (and is generally abundant here). It's going to be a long time before asteroid mining is going to make sense for iron, nickel, or precious metals. I expect any movement in that direction will be towards rare earths, which are in increasing demand and are largely controlled by just a few countries.