Space Mining | Mining University

Space Mining

I can't believe it. There are two of them. Tuesday a new company announced that they are funding projects to mine asteroids in space. This new company, Deep Space Industries Inc., says that they plan to send prospecting satellites into space as early as 2015. Deep Space is in direct competition with Planetary Resources, the original space mining company.

I think it's neat that people want to explore the universe and realize that mining is an important part of any expansion project. I just wonder where their profit is going to come from. It's fine to have founders with deep pockets but eventually every corporation needs to have a money making endeavor. I worry that space mining is in the same development scheme as wind and solar power, something that has great potential but hasn't shown any money making results. I do appreciate, however, that all the funding for both companies is coming from the private sector. The government doesn't need to throw my money at space mining any more than it needs to give it to Solyndra.

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