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2019-06-26 Science & Technology
The golden asteroid that could make everyone on Earth a billionaire
[RT.com] Whether it was the Big Bang, Midas or God himself, we don’t really need to unlock the mystery of the origins of gold when we’ve already identified an asteroid worth $700 quintillion in precious heavy metals.

If anything launches this metals mining space race, it will be this asteroid--Psyche 16, taking up residence between Mars and Jupiter and carrying around enough heavy metals to net every single person on the planet close to a trillion dollars.

The massive quantities of gold, iron and nickel contained in this asteroid are mind-blowing. The discovery has been made. Now, it’s a question of proving it up.

NASA plans to do just that, beginning in 2022.

Of course, says veteran miner Scott Moore, CEO of EuroSun Mining "The ’Titans of Gold’ now control hundreds of the best-producing properties around the world, but the 4-5 million ounces of gold they bring to the market every year pales in comparison to the conquests available in space."

In the decades to come, if you want to be a gold titan, you’ll have to get your feet off the ground. The real titans will be far from Earth.

Moore should know: He heads up a junior mining company that is seeking a seat at the titan table with the biggest in-development gold mine in Europe.

The 21st-Century Gold Rush

Can we actually extract this space gold? That is the quintillion-dollar question, certainly.

Speaking to Outerplaces, Professor John Zarnecki, president of the Royal Astronomical Society, estimates that it would take around 25 years to get ’proof of concept’, and 50 years to start commercial production.

Of course, it all depends on two key things: Economic feasibility and our advancement of space technology.

And then, we’re not alone, either. There are other world powers who would like to get their hands on that asteroid, as well. China definitively plans to dominate this race.

Mitch Hunter-Scullion, founder of the UK-based Asteroid Mining Company, tells the BBC that this is definitively the next industry "boom".
Much more at link
Posted by Seeking Cure For Ignorance 2019-06-26 11:31|| E-Mail|| Front Page|| [404 views ]  Top

#1 I claim this asteroid in the name of Mars
Posted by lord garth 2019-06-26 11:58||   2019-06-26 11:58|| Front Page Top

#2 Lord Garth, according to the last census I'm a Martian. I gots dibs on anything Martian. I will, however, share it with you.
Posted by Deacon Blues 2019-06-26 12:31||   2019-06-26 12:31|| Front Page Top

#3 Meh. When Spain tried something similar after conquering Central and South America, they ended up with severe inflation followed by nationwide poverty when the gold stopped flowing.

On the other hand, if the asteroid contains reasonable amounts of rare earth metals, China will go belly up while technology products boom. I could live with that outcome.
Posted by trailing wife 2019-06-26 12:48||   2019-06-26 12:48|| Front Page Top

#4 I've seen this before...

Posted by swksvolFF 2019-06-26 15:28||   2019-06-26 15:28|| Front Page Top

#5 Psyche 16 will provide enough heavy metals to net every single person on the planet close to a trillion dollars.

Gold will be dirt cheap because it is not scarce.
Posted by JohnQC 2019-06-26 17:04||   2019-06-26 17:04|| Front Page Top

#6 Eh, gold and asteroids are so last week. I'd suggest bitcoin but it's yesterday. Everyone knows volcano machines are the future.
Posted by Thing From Snowy Mountain 2019-06-26 17:06||   2019-06-26 17:06|| Front Page Top

#7 #Beat me to it.

And the inflation caused by the Spanish bonanza also at least facilitated the Protestant Reformation.

What would be the "woke" equivalent of that?
Posted by charger 2019-06-26 17:08||   2019-06-26 17:08|| Front Page Top

#8 "#5 Beat me to it." is what I meant to say.
Posted by charger 2019-06-26 18:52||   2019-06-26 18:52|| Front Page Top

#9 If everyone is a billionaire, then a cup of coffee will cost 3 billion...
Posted by Iblis 2019-06-26 19:38||   2019-06-26 19:38|| Front Page Top

#10 Such an asteroid will collapse the price of gold.
Posted by rjschwarz 2019-06-26 20:04||   2019-06-26 20:04|| Front Page Top

#11 "Ghetto grill culture™ hardest hit"
Posted by Frank G 2019-06-26 20:16||   2019-06-26 20:16|| Front Page Top

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