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.
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.