Space miners say Earth-buzzing asteroid worth $195 billion

NASA

An artist's conception of the Friday's flyby of asteroid 2012 DA14.

By Mike Wall
Space.com

The space rock set to give Earth a historically close shave on Friday may be worth nearly $200 billion, prospective asteroid miners say.

The 150-foot-wide (45 meters) asteroid 2012 DA14 — which will zoom within 17,200 miles (27,000 kilometers) of Earth on Friday, marking the closest approach by such a large space rock that astronomers have ever known about in advance — may harbor $65 billion of recoverable water and $130 billion in metals, say officials with celestial mining firm Deep Space Industries.

That's just a guess, they stressed, since 2012 DA14's composition is not well known and its size is an estimate based on the asteroid's brightness.

The company has no plans to go after 2012 DA14; the asteroid's orbit is highly tilted relative to Earth, making it too difficult to chase down. But the space rock's close flyby serves to illustrate the wealth of asteroid resources just waiting to be extracted and used, Deep Space officials said. [Deep Space Industries' Asteroid-Mining Vision in Photos]

"While this week's visitor isn't going the right way for us to harvest it, there will be others that are, and we want to be ready when they arrive," Deep Space Chairman Rick Tumlinson said in a statement Tuesday.

Deep Space Industries wants to use asteroid resources to help humanity expand its footprint out into the solar system. The company plans to convert space rock water into rocket fuel, which would be used to top off the tanks of off-Earth satellites and spaceships cheaply and efficiently.

NASA

This graphic shows 2012 DA14's path past Earth.

Asteroidal metals such as iron and nickel, for their part, would form the basis of a space-based manufacturing industry that could build spaceships, human habitats and other structures off the planet.

The idea is to dramatically reduce the amount of material that needs to be launched from Earth, since it currently costs at least $10 million to send 1 ton of material to high-Earth orbit, officials said.

"Getting these supplies to serve communications satellites and coming crewed missions to Mars from in-space sources like asteroids is key if we are going to explore and settle space," Tumlinson said.

Deep Space Industries is just one of two asteroid-mining firms that have revealed their existence and intentions in the past 10 months. The other is Planetary Resources, which has financial backing from billionaires such as Google execs Larry Page and Eric Schmidt.

Deep Space aims to launch a phalanx of small, robotic prospecting probes called Fireflies in 2015. Sample-return missions to potential targets would occur shortly thereafter, with space mining operations possibly beginning around 2020.

Planetary Resources also hopes its activities open the solar system up for further and more efficient exploration. The company may launch its first low-cost prospecting space telescopes within the next year or so.

Follow Space.com senior writer Mike Wall on Twitter @michaeldwall or Space.com @Spacedotcom. We're also on Facebook and Google+

 

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Discuss this post

Space miners say Earth-buzzing asteroid worth $195 billion..

Better hurry..

  • 3 votes
Reply#1 - Wed Feb 13, 2013 12:26 PM EST

How much is it worth as a kinetic weapon to take out some place you don't like? Easier than stopping and mining it.

  • 1 vote
Reply#2 - Wed Feb 13, 2013 12:50 PM EST

Yeah. Those Kardashians, sorry I mean Cardassians, have been acting up again. Send it their way.

  • 1 vote
#2.1 - Wed Feb 13, 2013 12:59 PM EST
Reply

These early enterprises will be the financial dynasties once we expand across the Solar System. And as we expand further, the biggest money makers will be those who can transport water to planets or outposts where water is scarce. Those empires that can establish those trade routes and businesses early will be the most powerful entities of humankind.

  • 4 votes
Reply#3 - Wed Feb 13, 2013 12:53 PM EST

I definitely agree with your general assessment of the future. Back to the article, harvesting space rock water for drinking water (if possible) may be a much more urgent need than rocket fuel in the future.

  • 4 votes
#3.1 - Wed Feb 13, 2013 12:57 PM EST

Don't forget the water needed in manufacturing.

  • 1 vote
#3.2 - Wed Feb 13, 2013 1:09 PM EST

Ojibobo, I like the way you think.

    #3.3 - Wed Feb 13, 2013 1:10 PM EST

    I hardly think that harvesting space rocks for water to bring back to Earth is more efficient than desalinating seawater, king. Earth has all the water we could possibly want, and more, but it just takes some work to make it good to drink.

    • 1 vote
    #3.4 - Wed Feb 13, 2013 1:59 PM EST

    Desalinating the water could potentially, and has been known to cause detrimental side effects. The resulting salination of the body of water it was taken from is not a positive benefit.

    However, when I mentioned the transport of water, while yes using it on earth would be beneficial I was referring to the transport and utilization of water on other astral bodies. Say we hollow out Phobos into an orbiting deep solar system station. Barring any new revelation of water found on Martian moons, shipping water to these isolated outposts is going to be key. Creating these 'water trade routes' will be the foundation of huge financial empires as where the water goes so does the life.

    Let's say we fast forward half a millennia to a millennia from now. We've branched out to neighboring solar systems through...generational ships, or faster than light travel, or stasis/suspended animation, or whatever. We'll find some planetary systems will have not as much water as others but may have some other financial value such as large asteroid belts that can be mined for rare compounds. Shipping water to these locations is going to be a huge business.

    Any time you can help build a massive infrastructure that will help the growth of an empire, you'll be fairly financially set. We're talking about trillions upon trillions of dollars worth for those who can set up these kinds of foundations for our interplanetary future.

      #3.5 - Wed Feb 13, 2013 6:29 PM EST

      It all sounds great.. but I'm still waiting on the flying cars they promised we'd all be driving around back in the early 80's. Call me cynical, but with all the technological advances we have had, we basically have better ways to entertain ourselves. Mining asteroids and hollowing out moons, much less people "living" in space or other planets doesn't seem realistic in the next 100 or more years.. but maybe I'm just old and out of touch.. and still waiting on my rocket car...

        #3.6 - Fri Feb 15, 2013 2:36 PM EST
        Reply

        I know a lizard on Omicron Persei 8 who sells them for half that!

        • 3 votes
        Reply#4 - Wed Feb 13, 2013 12:56 PM EST

        Their numbers are way, way off. There is no way that a sphere that is 150 ft. in diameter will cost 65 billion dollars to fill with water.

        They are fishing for investors with hype!!!

        • 1 vote
        Reply#5 - Wed Feb 13, 2013 12:56 PM EST

        I don't think they're referring to the cost of bringing the water back down to earth. In space, hydrogen/water is worth a lot because it can be converted into rocket fuel. Given the cost to refuel rockets, add in the notion of having the ability to do it in space, you've got quite a mark up in price.

        Sure the number may be inflated, but I don't think it's too outrageous either. There are so many resources orbiting our sun that we have yet to tap into and it's a surprise to me actually that given the greed of many corporations that they aren't scrambling to get their claws on them.
        There are enough raw materials just in the asteroid belt alone to reasonably build a fleet of craft to mine the solar system. The moons of Mars and/or Jupiter could easily house shipyards or manufactoring forges.

        Yes, I know these are pipedream ideas but they will happen eventually. Of that I have no doubt.

        • 1 vote
        #5.1 - Wed Feb 13, 2013 1:23 PM EST

        Roger that!

          #5.2 - Wed Feb 13, 2013 1:31 PM EST

          Water on Earth is pretty cheap. Water in orbit costs (at least $8500 (per lb) x 8.34(lbs) = ) $70,890 per gallon.

          A gallon is .133681 cubic feet. A 150 foot diameter sphere contains 1,767,150 cubic feet or 13,219,156 gallons.

          That volume of water, FOB orbit, would cost $112,362,826,430. That's slightly more than 112 billion dollars (assuming calculations are correct and assumptions on geometry aren't too far off).

          So, if the asteroid is roughly 50% water, the figures quoted in the article (for water) are reasonable.

          • 1 vote
          #5.3 - Wed Feb 13, 2013 1:59 PM EST

          Well, despite the "greed" of corporations, this is an entirely untested and hugely theoretical enterprise that requires substantial knowledge of a wide variety of topics: engineering, astronomy, rocket science, biology, geology, and more esoteric and emerging fields, such as space geology and vaccuum bio. It's a hefty order for any mere corporation, and the risks are enormous for any investors.

          So it doesn't surprise me at all that there's relatively little interest in space mining at this point, though I'm overjoyed that there are finally firms intent on pioneering this new field.

            #5.4 - Wed Feb 13, 2013 2:03 PM EST
            Reply

            When Armstrong stepped on the moon, there was a phrase making the rounds "With eyes on the stars"... As a kid, I believed that were were headed there. Seeing the stars at night at 30,000 feet from the flight deck of my EC-130 was as close as I ever got. I wouldn't trade that fro life as a ground-pounder, but I really wish these guys can make a go of their plans so someday my kids can reach the stars.

            "The meek shall inherit the Earth....the rest of us will move on to the stars."

            • 2 votes
            Reply#6 - Wed Feb 13, 2013 1:04 PM EST

            No way mankind is worthy of inhering the Earth or anything beyond it. Not with his propensity for violence

              #6.1 - Wed Feb 13, 2013 1:12 PM EST

              I think mankind is very worthy of moving out into the universe. Violence is part of nature. We are not the only species that engages in war. The biggest difference between us and most other species is we use tools to assist us in war. Animals kill for food and pleasure, just look at cats. Animals fight over territory just look at dogs. Animals fight over sex, just look at deer. So when you say we are a violent species, you aren't saying anything that isn't true about a great number of organisms. Life is war. Mankind should move to other worlds. It is the only way to ensure our survival and the survival of other species we live with daily.

              • 1 vote
              #6.2 - Wed Feb 13, 2013 1:21 PM EST

              It doesn't matter whether we're "worthy" of inheriting anything according to some arbitrary standard you made up on the spot, because it's out there and we're going to take it if we can. All of nature is just a mad dash to spread and consume, after all.

              And while I'm also quite fond of Earth, I'd happily move to space if it became feasible within my lifetime for paper-pushers to be employed in stellar installations.

                #6.3 - Wed Feb 13, 2013 1:56 PM EST
                Reply

                This is just awesome. I never actually thought I'd see humanity launch space mining ventures within my lifetime.

                I am rather curious as to how the government(s) are going to handle space industry, though. Are they going to regulate it, subsidize it, or both? Will mass in space be claimed purely on a "first land, first serve" basis? Will the national affiliations of the corporations claiming asteroid mass imply ownership by that nation, or is it purely private property? Would operations in space be taxed in accordance to whatever country the corporation is based in on Earth?

                It may be a dull, buearucratic take on the subject, but I still find it relevant that if companies are really going to try to expand into space, government is going to try to run after them.

                  Reply#7 - Wed Feb 13, 2013 2:12 PM EST

                  Dont get to excited. I fully expected, the day I saw the moon landing that I would see (and maybe be part of) the colonization of the moon. Then came the anti-science liberal agenda and now I expect never to see progress from Europe or N. America for at least 2 more lifetimes. As far as how the government will handle it ... they will regulate and tax it until it is no longer a viable option of course.

                    #7.1 - Wed Feb 13, 2013 8:51 PM EST

                    I fail to see how the liberal agenda blocks progress toward space expansion. While those on the far left may wish to preserve the lifeless rocks in space out of reflex, to save them from human exploitation (to the benefit of precisely no one), they are in a tiny minority and have little to no power to affect or block change.

                    Governments may regulate and tax it, and if so then so be it, but I was hoping for something more specific. Regulations imply a legal order. How do you think space property will be handled once it leaves low-Earth-orbit?

                      #7.2 - Thu Feb 14, 2013 10:38 AM EST
                      Reply

                      This is EXACTLY the kind of venture that people need to invest in. You can think of what to do with an asteroid once we have one captured and in a good place for us to harvest materials from. The cost of bringing materials up to High Earth orbit is the biggest stumbling block to expansion into the solar system. This is where we need to concentrate our resources.

                        Reply#8 - Wed Feb 13, 2013 2:39 PM EST

                        The biggest stumpling block to expansion into the solar system is not pyshical it is the "progressive" agenda ...

                          #8.1 - Wed Feb 13, 2013 8:47 PM EST
                          Reply

                          Yes it is going to miss the Earth, but does anyone else care that it did cross the Moon's path? A crash into the Moon won't be good for the Earth, either.

                          "astrobio.net/index.php?option=com_retrospection&task=detail&id=2507"

                            Reply#9 - Wed Feb 13, 2013 2:51 PM EST

                            Don't meteors hit the moon all the time? That's what all those craters are from, right?

                            • 1 vote
                            #9.1 - Wed Feb 13, 2013 3:13 PM EST

                            yes but that was a long time ago. since the moon has no atmosphere there is no erosion so the craters don't get worn down and filled in like here on earth.

                              #9.2 - Wed Feb 13, 2013 6:10 PM EST
                              Reply

                              I agree with pepper....a meteor 45 meters across has 130 billion worth of water?? I'm really tired of scientists who come up with this stuff ...and then get whatever grants they get to do whatever "research" of >{>"L{PL)I they want to...but its like firemen or teachers ...you can't say anything bad or you look like a ________.

                                Reply#10 - Wed Feb 13, 2013 4:25 PM EST

                                Well, zip, the 'scientists' that came up with this work for a for-profit corporation with an eye towards profitably prospecting in space. And the $130 billion is based on the value of that water *already in space* versus the cost of getting it from earth to space ($20k per pound or more). No grants here, just raw capitalism and innovation.

                                  #10.1 - Fri Feb 15, 2013 1:15 PM EST
                                  Reply

                                  Money was the driving force for the exploration of America.

                                    Reply#11 - Wed Feb 13, 2013 6:58 PM EST

                                    Money is the driving force in every single activity the human species undertakes. In America the actual original settlers may not have been motivated by money, but the legal authorities would never have allowed it to happen without expectation of future returns.

                                      #11.1 - Wed Feb 13, 2013 8:45 PM EST
                                      Reply

                                      The mineral value of the Moon is on the order of hundreds of quadrillions of dollars. I personally vote for mining the Moon (Luna). Why chase after something which you have already captured or caught? - RC

                                        Reply#12 - Wed Feb 13, 2013 9:18 PM EST

                                        What mineral deposits have we found on the moon?

                                          #12.1 - Thu Feb 14, 2013 10:40 AM EST
                                          Reply

                                          Not a miner in the bunch. Does anyone have a clue what it takes to put a mine into operation today on Earth? From 1 - 2 billion dollars and that is with all the infrastructure in place. Just how do these nitwits plan on crushing and grinding the rock and where do they plan to get the energy to run the mill? To take on this project and see it to fruitation for one asteroid will likely take 100 years. The cost likely about 100 billion dollars. Now that 129 Billion does not look so good. The water is not laying there in puddles but is chemically bound to other minerals in the rock. Anyone putting money into this scheme is an idiot.

                                          • 1 vote
                                          Reply#13 - Wed Feb 13, 2013 10:42 PM EST

                                          I kind of imagine that the infrastructure for mining an asteroid with robots would be very, very different from that installed on an Earthbound mine, given lack of gravity, workers, and drainage. I don't know myself, but your objections don't seem insurmountable. Drills can grind rocks down to size and carry them to a space processing plant, and energy is an issue that space engineers have long experience in dealing with.

                                          You're right that it might not turn a profit until Earth minerals start to run dry, but that's no reason not to try.

                                            #13.1 - Thu Feb 14, 2013 10:47 AM EST

                                            Exactly. I don't see how crushing and conveying would work in space. How well would a ball mill work in zero gravity?

                                              #13.2 - Thu Feb 14, 2013 6:53 PM EST
                                              Reply

                                              No, it's worth less then nothing. When I see a space mine then we can talk about what it worth.

                                                Reply#14 - Thu Feb 14, 2013 8:32 AM EST

                                                I think that if we can mine an asteroid we might be able to hitchhike a ride on several of them to get a better picture of our solar system.

                                                  Reply#15 - Thu Feb 14, 2013 9:16 AM EST

                                                  Only Union workers allowed.

                                                    Reply#16 - Thu Feb 14, 2013 6:59 PM EST

                                                    Deep Space Industries? Planetary Resources? It's a little early for April Fools.

                                                      Reply#17 - Fri Feb 15, 2013 11:36 AM EST
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