We are living in an era of green energy. From solar panels powering our homes to cars that run on batteries, we are using electricity more and more to cut our reliance on fossil fuels. But what some may not realize is that these batteries and solar panels must be made of something. And there are only so many nickel and cobalt deposits on the Earth to go around. Researchers are developing technologies to mine deposits on the ocean floor. But this would have immediate and long-term impacts on the ocean ecosystem. But … another source of these minerals exists in space.
Economists released a series of papers on Oct. 16 on this very subject. One in particular, by Ian Lange, details the benefits and challenges of mining in space. The benefits speak for themselves. The mineral deposits on some of these asteroids are believed to be larger than some of the largest deposits on Earth. Deposits are believed to be denser and richer as well. Plus, the environmental impact is non-existent as these rocks have no environment. The development of reusable rockets to leave Earth has cut mission costs significantly and made space mining more attractive.
However, there are significant hurdles to overcome before we start opening space mines. The first is that there is no current infrastructure or technology to start a mine. Terrestrial mining techniques use gravity as a principal force in refining and separating minerals. On this front, companies like AstroForge are launching small satellites to test and refine the zero-gravity mining process, and TransAstra is developing asteroid mining technologies with the support of grants from NASA.
Along with the technological hurdles, there are also political ones. No entity governs space, and there are no regulations or procedures set up for a space mining operation. Many are hoping the Artemis Accords, set to give guidelines for Moon exploration and resource extraction, will provide a framework for the further space industry.
Though the risks are high, the potential benefits of space mining are too great to ignore. Minerals once thought to be rare will be available in abundance to continue our push to fully renewable power and so much more.