Monday, April 23, 2012

Newly Unveiled Company-Planetary Resources Inc.-to Mine Near Earth Asteroids

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A newly unveiled company with some high-profile backers — including filmmaker James Cameron and Google co-founder Larry Page — has announced plans to mine near-Earth asteroids for resources such as precious metals and water.
"If you look at space resources, the logical next step is to go to the near-Earth asteroids," Planetary Resources co-founder and co-chairman Eric Anderson told "They're just so valuable, and so easy to reach energetically. Near-Earth asteroids really are the low-hanging fruit of the solar system."

Precious metals and water
Two of the resources the company plans to mine are platinum-group metals and water, Anderson said. [Images: Planetary Resources' Asteroid Mining Plans]
Platinum-group metals — ruthenium, rhodium, palladium, osmium, iridium, and platinum — are found in low concentrations on Earth and can be tough to access, which is why they're so expensive. In fact, Anderson said, they don't occur naturally in Earth's crust, having been deposited on our planet over the eons by asteroid impacts.
"We're going to go to the source," Anderson said. "The platinum-group metals are many orders of magnitude easier to access in the high-concentration platinum asteroids than they are in the Earth's crust."
And there are a lot of precious metals up there waiting to be mined. A single platinum-rich space rock 1,650 feet (500 meters) wide contains the equivalent of all the platinum-group metals ever mined throughout human history, company officials said.

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