Science

Asteroid Mining: The Next Golden Age of Space Resources?

2025-07-12

Author: Jacob

Picture this: giant asteroids hurtling through space, brimming with riches just waiting to be claimed. The dream of asteroid mining is no longer just science fiction—it's fast becoming a reality! With a surge in space missions aimed at uncovering the wealth hidden in celestial rocks, the race to cash in on these otherworldly resources is heating up.

Asteroids, particularly metallic ones, are practically treasure troves filled with iron, nickel, and precious platinum group metals (PGMs). NASA’s groundbreaking OSIRIS-REx mission recently returned samples from the asteroid Bennu, showcasing the potential of space mining.

And let's not forget about the Psyche mission, launching in 2029 to explore an asteroid believed to be primarily metal, consisting of 30% to 60% of its volume. The question is: could mining asteroids actually turn into a booming industry?

Enter AstroForge, a pioneering company based in Huntington Beach, California, which views asteroid mining as the next trillion-dollar industry. Despite setbacks—including the loss of their $3.5 million spacecraft, Odin—AstroForge remains undeterred. They are preparing for their next venture, Vestri, aiming to tap into the immense resources of space.

But here’s where it gets even more interesting: Should we focus on mining asteroids or turn our eyes to the moon? Alex Ellery, a research professor, recently posed a thought-provoking question. Is it possible to leverage both lunar and asteroid resources?

Ellery points out that while asteroids are rich in resources, only 1 in 2,000 near-Earth objects (NEOs) contains economically viable concentrations of PGMs, while finding water on asteroids is even rarer. Could lunar industries serve as a better base for resource collection from both moons and asteroids?

A recent study by independent researcher Jayanth Chennamangalam has uncovered a tantalizing possibility: instead of seeking out asteroids zipping through space, we may find it more lucrative to mine the remnants of asteroids that have impacted the moon. According to Chennamangalam, these impacts may have left behind thousands of craters containing valuable materials.

This revelation suggests there may be more accessible asteroid-derived resources on the moon than originally thought. The detailed paper presents a strong case for lunar mining as a favorable endeavor.

Additionally, a collaborative student team from top universities has proposed the establishment of the Panel on Asteroid Orbit Alteration (PAOA). This international body would focus on the risks associated with potential changes to asteroid orbits due to human activities, such as mining and space missions. Their proposal, which won the Schweickart Prize—an award aimed at fostering future leaders in planetary defense—emphasizes the growing need to manage these risks.

As we stand on the threshold of a new era of space exploration, the stakes are high. Will asteroid mining become a thriving industry, or will the moon's craters yield the most valuable resources? The future of interplanetary resource extraction is brimming with possibilities—one thing is for sure: the gold rush has only just begun!