Boxden hiphop sports wild'ish games movies news eyecandy tech gear rides
trending now popular now #top20 top yesterday all sections videos pics tracks headlines

Plans for asteroid mining emerge

most watched this minute | see more
most viewed right now
91 viewing
 Image inside The REAL Amber Rose  
most viewed right now
69 viewing
Image inside Who's This 200 lbs PAWG?  

top in section
59 viewing
 Image inside Your Life In Weeks
top in wild'ish
top in section
19 viewing
 NBA Lebron da Hairline wit da Vicious Alley Oop
top in sports

people viewing this topic:   (0 members and 1 guests)  

let em know Ľ Share this on TwitterShare this on Facebook
 Plans for asteroid mining emerge
Unread 04-24-2012, 06:31 AMJoined Apr 2011 - away - #1
1535 pageviews

s7venwords 4727 heat pts4727 space
avatar space
First 9 Representative
$31,637 | POWERFUL
24 April 2012 Last updated at 07:30 ET

[pic - click to view]

The plan is to tap raw resources from asteroids that pass near Earth

Details have been emerging of the plan by billionaire entrepreneurs to mine asteroids for their resources.

The multi-million-dollar plan would use robotic spacecraft to squeeze chemical components of fuel and minerals such as platinum and gold out of the rocks.

The founders include film director and explorer James Cameron as well as Google's chief executive Larry Page and its executive chairman Eric Schmidt.

They even aim to create a fuel depot in space by 2020.

However, several scientists have responded with scepticism, calling the plan daring, difficult and highly expensive.

They struggle to see how it could be cost-effective, even with platinum and gold worth nearly £35 per gram ($1,600 an ounce). An upcoming Nasa mission to return just 60g (two ounces) of material from an asteroid to Earth will cost about $1bn.

The inaugural step, to be achieved in the next 18 to 24 months, would be launching the first in a series of private telescopes that would search for asteroid targets rich in resources. The intention will be to open deep-space exploration to private industry.

[pic - click to view]

Backers of the venture include James Cameron who recently dived to the deepest place on Earth

Within five to 10 years, however, the company expects to progress from selling observation platforms in orbit around Earth to prospecting services. It plans to tap some of the thousands of asteroids that pass relatively close to Earth and extract their raw materials.

The company, known as Planetary Resources, is also backed by space tourism pioneer Eric Anderson, X-Prize founder Peter Diamandis, former US presidential candidate Ross Perot and veteran Nasa astronaut Tom Jones.

The founders of the venture are to give further details in a press conference on Tuesday.

Long game
"We have a long view. We're not expecting this company to be an overnight financial home run. This is going to take time," Eric Anderson told the Reuters news agency.

The billionaires are hoping that the real financial returns, which are decades away, will come from mining asteroids for platinum group metals and rare minerals.

"If you look back historically at what has caused humanity to make its largest investments in exploration and in transportation, it has been going after resources, whether it's the Europeans going after the spice routes or the American settlers looking toward the west for gold, oil, timber or land," Mr Diamandis explained.

Water from asteroids could be broken down in space to liquid oxygen and liquid hydrogen for rocket fuel. Water is very expensive to get off the ground so the plan is to take it from an asteroid to a spot in space where it can be converted into fuel.

From there, it could be shipped to Earth orbit for refueling commercial satellites or spacecraft.

"A depot within a decade seems incredible. I hope there will be someone to use it," Dr Andrew Cheng, a planetary scientist at Johns Hopkins University's Applied Physics Laboratory told the a.ssociated Press.

"And I have high hopes that commercial uses of space will become profitable beyond Earth orbit. Maybe the time has come."

Prof Jay Melosh from Purdue University said that the costs were just too high, calling space exploration "a sport that only wealthy nations, and those wishing to demonstrate their technical prowess, can afford to indulge."

Eric Anderson, who co-founded the space tourism firm Space Adventures, said he was used to sceptics.

"Before we started launching people into space as private citizens, people thought that was a pie-in-the-sky idea," He said.

"We're in this for decades. But it's not a charity. And we'll make money from the beginning."

BBC News - Plans for asteroid mining emerge
Reply With Quote
The Following BX resident gave props to s7venwords Damagegadget (04-24-2012)

4 comments for "Plans for asteroid mining emerge"

- To post a comment, join the squad -

Unread 04-24-2012, 06:06 PMJoined Oct 2011 - away - #2
bobby doobie  space
avatar space
206 fire
$3,131 | 11679623
damn $1600 a ounce and they got 2ounces and it cost a billion could built a bunch of schools or something more useful imo.
Reply With Quote
Unread 04-24-2012, 10:10 PMJoined Oct 2007 - on now - #3
j_k1dd 8 heat pts space
avatar space
What's DeMaTa?
$2,178 | 13190764
Originally Posted by bobby doobie
damn $1600 a ounce and they got 2ounces and it cost a billion could built a bunch of schools or something more useful imo.
Originally Posted by MPLSallstar
Not profitable. Also, if a launch flops, how many billions of those dollars could have went towards saving lives on this planet? Not even current, but future lives in regards to cures.
Reply With Quote
Unread 04-25-2012, 12:26 AMJoined Apr 2008 - away - #4
Gmengfx 56 heat pts56 space
avatar space
Senior Member
$11,402 | POWERFUL
you gotta realize though..these billionaires get bored with buying cars and houses after a while..

if i was a billionaire..i would deff be sinking doe into some crazy space sh*t

id pass on this mission but..w/e
Reply With Quote

Home > BX Table Of Contents > Faculty of Science
          join bx


that hot ish yesterday

most viewed right now
33 viewing
Video inside Ludacris at The Breakfast Club: Issue w/ Drake, Fas..
most viewed right now
32 viewing
Video inside Donít heckle Lil Wayne at his concert! dude gets ro..
most viewed right now
26 viewing
Taraji P. Henson and her son are full of sh-t
most viewed right now
25 viewing
15 Rappers Who Never Dropped A Classic Album by Hiphopwired
most viewed right now
22 viewing
NBA Blake Griffin gonna make Austin Rivers cry in the car ..
most viewed right now
19 viewing
NBA An ex-NBA player who made $66 million is now a Columbi..
most viewed right now
17 viewing
Image inside R.I.P OTF Chino  
most viewed right now
15 viewing
NFL Some of Barry Sanders' Top Runs EVER  
most viewed right now
12 viewing
Video inside Mar 27 - USPS driver throws packages on porch, runs..

contact us   |   bx@twitter   |   bx@facebook   |   privacy   |   search   |  © BX 1998-end of time