Asteroid, Asteroid Mining | featured news

Another company joined the commercial space race Tuesday with ambitious plans to mine asteroids near Earth, but experts say the physics and economics of the Final Frontier remain still daunting.

Meet Amun 3554... Little more than a mile wide, it's one of the smallest M-class (metal-bearing) asteroids yet discovered... So, the total payout from one unassuming asteroid? $20,000,000,000,000. That’s what got Planetary Resources co-founder Peter Diamandis so excited. “There are $20 trillion checks up there waiting to be cashed,” he enthused at a space development conference in 2006.

A group of high-tech tycoons wants to mine nearby asteroids, hoping to turn science fiction into real profits. The plan is to use commercially built robotic ships to squeeze rocket fuel and valuable minerals like platinum and gold out of the lifeless rocks that routinely whiz by Earth. One of the company founders predicts they could have their version of a space-based gas station up and running by 2020.