Asteroid mining becomes a serious proposition

Subject

Asteroid mining.

Significance

The US firm Planetary Resources in April completed successful tests in orbit of technology it plans to use to prospect for natural resources on asteroids from 2020. Separately, the China Academy of Launch Vehicle Technology late last year announced long-term plans for large-scale asteroid mining. Meanwhile, US legislators have begun laying the legal foundations for a space mining industry. Significant technological challenges remain, but key technologies have already been demonstrated, making the industry a serious prospect.

Impacts

• An investment bubble could follow dramatic early successes or technological breakthroughs.
• There may be international tension over ownership or priority of access unless new international legal frameworks are agreed in advance.
• Asteroid mining will not be a viable solution to terrestrial resource depletion for the foreseeable future.