New Company to Mine Asteroids

[kandace]

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.

Two of the resources the company plans to mine are platinum-group metals and water, Anderson said. 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."

[bullmikey]

That's nice. But seeing is believing. Besides, I couldn't imagine how it would be profitable.

[Rael]

That's nice. But seeing is believing. Besides, I couldn't imagine how it would be profitable.

Especially the water part. Umm, it would be a bit more cost-effective to get the water from here.

[skeemer]

Especially the water part. Umm, it would be a bit more cost-effective to get the water from here.

It's not cost effective to lift water from Earth into orbit, however.

[Kenect2]

If they found the rare earth elements in high enough concentration they could make a fortune. As for water, they plan to sell it in space. It would be less expensive to get water from a near-Earth asteroid than to lift water out of Earth's gravity well.

[CIB]

If they found the rare earth elements in high enough concentration they could make a fortune. As for water, they plan to sell it in space. It would be less expensive to get water from a near-Earth asteroid than to lift water out of Earth's gravity well.

Correct.

[Wizard777]

If they found the rare earth elements in high enough concentration they could make a fortune. As for water, they plan to sell it in space. It would be less expensive to get water from a near-Earth asteroid than to lift water out of Earth's gravity well.

Do they actually own the asteroid? I can see the asteroid being the legal property of two entities. The first and foremost being The Peoples Of The World. Secondly and quite possibly the person that discovered and registered the asteroid.

I have another much bigger concern. What if the mining alters the trajectory of the asteroid and after 10, 100, 1,000 or even 1,000,000 orbits it comes crash down to earth wiping Israel off the map and killing millons. These impacts are related in terms of nuclear bombs being detonated. Energy released from asteroid impact = X nuclear bombs being detonate simultaineously. How would that be handled? Is it millions of counts of manslaughter or second degree murder against the CEO, upper management and the board or is it just a cost of doing business for the company.

How would the liability on something like that work? They get to keep all the money. But the second they turn an asteroid into a weapon more powerful than 10 or 100 nuclear bombs that kill millions in a foreign country. Is that a liability that the Americans Tax Payers foot the bill on?

When I think of all the evil crap Corporations will resort to in a bid to own the world by Friday. I don't think any part of that evil crap should be allowed to leave this planet in a bid to own the Universe by Saturday afternoon.

[Kenect2]

Do they actually own the asteroid? I can see the asteroid being the legal property of two entities. The first and foremost being The Peoples Of The World. Secondly and quite possibly the person that discovered and registered the asteroid.

I have another much bigger concern. What if the mining alters the trajectory of the asteroid and after 10, 100, 1,000 or even 1,000,000 orbits it comes crash down to earth wiping Israel off the map and killing millons. These impacts are related in terms of nuclear bombs being detonated. Energy released from asteroid impact = X nuclear bombs being detonate simultaineously. How would that be handled? Is it millions of counts of manslaughter or second degree murder against the CEO, upper management and the board or is it just a cost of doing business for the company.

How would the liability on something like that work? They get to keep all the money. But the second they turn an asteroid into a weapon more powerful than 10 or 100 nuclear bombs that kill millions in a foreign country. Is that a liability that the Americans Tax Payers foot the bill on?

When I think of all the evil crap Corporations will resort to in a bid to own the world by Friday. I don't think any part of that evil crap should be allowed to leave this planet in a bid to own the Universe by Saturday afternoon.

Have you informed your psychiatrist about those ideas? I recommend it.

[ms maggie]

This has Newt Gingrich written all over it. His moon colony people can handle this, no sweat. After their honeymoons are over of course.

[Passerine]

I'm kind of disappointed they're naming their company "Planetary Resources". Kind of boring if you ask me.

Considering Cameron is involved, I was hoping for either "Weyland-Yutani" or "RDA Corporation".

[Wizard777]

Have you informed your psychiatrist about those ideas? I recommend it.

Psychiatrists won't see me. I like to leave them in a fetal position doubting their own existence.