OT silly false claim - The golden asteroid that could make everyone on Earth a billionaire
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2019-06-26 22:23:29 UTC

The golden asteroid that could make everyone on Earth a billionaire
Published time: 26 Jun, 2019 08:48
Edited time: 26 Jun, 2019 13:47
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The golden asteroid that could make everyone on Earth a billionaire

(Idiots with silly claims, NO, it would not make everyone rich.
It would make the initial investors very rich, while the price
for precious metals dropped, and dropped. People who are currently
invested, will lose value. All the public would then gain
marginally as the prices of devices that need these
precious metals drops some. Not a lot of gold in most
phones or computers.)


Whether it was the Big Bang, Midas or God himself, we don’t really need
to unlock the mystery of the origins of gold when we’ve already
identified an asteroid worth $700 quintillion in precious heavy metals.
If anything launches this metals mining space race, it will be this
asteroid--Psyche 16, taking up residence between Mars and Jupiter and
carrying around enough heavy metals to net every single person on the
planet close to a trillion dollars.

The massive quantities of gold, iron and nickel contained in this
asteroid are mind-blowing. The discovery has been made. Now, it’s a
question of proving it up.

NASA plans to do just that, beginning in 2022.

Of course, says veteran miner Scott Moore, CEO of EuroSun Mining “The
‘Titans of Gold’ now control hundreds of the best-producing properties
around the world, but the 4-5 million ounces of gold they bring to the
market every year pales in comparison to the conquests available in space.”

In the decades to come, if you want to be a gold titan, you’ll have to
get your feet off the ground. The real titans will be far from Earth.

Moore should know: He heads up a junior mining company that is seeking a
seat at the titan table with the biggest in-development gold mine in Europe.

The 21st-Century Gold Rush

Can we actually extract this space gold? That is the quintillion-dollar
question, certainly.

Speaking to Outerplaces, Professor John Zarnecki, president of the Royal
Astronomical Society, estimates that it would take around 25 years to
get ‘proof of concept’, and 50 years to start commercial production.

Of course, it all depends on two key things: Economic feasibility and
our advancement of space technology.

And then, we’re not alone, either. There are other world powers who
would like to get their hands on that asteroid, as well. China
definitively plans to dominate this race.

Mitch Hunter-Scullion, founder of the UK-based Asteroid Mining Company,
tells the BBC that this is definitively the next industry “boom”.

Gold & platinum came to Earth in a massive star explosion – study

“Once you set up the infrastructure then the possibilities are almost
infinite,” he said. “There’s an astronomical amount of money to be made
by those bold enough to rise to the challenge of the asteroid rush.”

EuroSun’s Moore agrees: “What we’re doing on the ground now may be
impressive, but like everything else, even gold exploration in space is
only a matter of infrastructure. We’ll get to it, eventually.”

But it’s not just about the quintillion-dollar prospects of the Asteroid
Belt, which is 750 million kilometers from Earth.

“This may be the Holy Grail of space exploration for gold, but it won’t
be the first stop on this adventure,” Moore says.

There are also Near-Earth asteroids, which pass close to Earth and could
be pushed into an orbit from which water and other elements could be

Then there’s the moon, which holds resources from gold and platinum
group metals to Helium-3, water and rare earth metals. Even though
mining operations require gravity and the Moon’s is only one-sixth of
Earth’s, scientists say there is enough gravity to make it work.

The Global Asteroid Mining Market

Yes, there is already a global market for asteroid mining, and Allied
Market Research estimates that it will top $3.8 billion by 2025.

They’re counting ongoing and future space missions, the rise in inflow
of investments in space mining technologies, and the growing use of
print materials obtained from asteroids in 3D printing technology.

According to Allied, while the spacecraft design segment of this market
accounted for four-fifths of the total revenue in 2017 and is expected
to continue to dominate through 2025, the big change here will be in the
space mining segment, or the “operation segment”. That segment is
expected to grow at a CAGR of over 29% by 2025 “due to a surge in
investment by public and private stakeholders in space mining
technologies for resource exploitation”.

Bitcoin v gold: Peter Schiff tells Boom Bust which is the real safe
haven at time of turmoil

“You can’t just think of space mining as something that will suddenly
happen in 25 or 50 years,” says EuroSun’s Moore. “It’s already happening
from an investment perspective. And the Asteroid Belt is just one aspect
of this market. The entire global space market is worth hundreds of
billions already.”

Indeed, Morgan Stanley estimates the global space economy to be worth
$350 billion today. By 2040, it will be worth a cosmic $2.7 trillion.

Nor is the Psyche-16 Asteroid the only thing of interest in the Belt.
Another small asteroid measuring 200 meters in length could be worth $30
billion in platinum.

Who Will Get There First?

China has vowed to dominate this race, and that’s an easier game for a
country that controls all the major natural resource companies and
maintains a tight leash on tech developers.

That’s not to say that the US doesn’t have ambitions here. The
difference, though, is stark. While NASA is focused on space exploration
and scientific missions, China is focused on a space-based economy that
is zeroing in on long-term wealth generation.

Even Europe, where EuroSun is developing a major goldmine in Romania,
has its hand in the game. In January, the European Space Agency(ESA)
announced a deal with ArianeGroup, the parent company of Arianespace, to
study a prep mission to the moon in 2025. It’s got natural resources on
its mind.

Moon mining: ESA sets up lunar project to secure oxygen & water by 2025

Even tiny Luxembourg has 10 space-mining companies registered since
2016, with some targeting space ventures to the Moon, and others eyeing
near-Earth asteroids for mining.

Tokyo-based iSpace, for instance, is a private space exploration company
that plans to complete a lunar orbit in 2020, and a soft landing in 2021.

For Moore, the prospect is daunting, even if it is the clear future
reality, because mining in EuroSun’s Rovina Valley project in
west-central Romania has been a cakewalk, both in terms of geology and
infrastructure. Everything lines up for a large, low-cost project (the
biggest in-development gold mine in Europe.) That won’t be the case in
space, but it’s a big bill that governments will want to help foot or
risk losing their place in space.

Whoever gets there first will become the new god of gold, and the
competition is heating up.

This article was originally published on Oilprice.com
Thomas Koenig
2019-06-27 19:18:40 UTC
Post by a425couple
The golden asteroid that could make everyone on Earth a billionaire
ObSF: Rincewind and the Patrician in "The Colour of Magic".
Post by a425couple
(Idiots with silly claims, NO, it would not make everyone rich.
Well, Rincewind said so, the Patrician did not contradict him,
so it must be true :-)

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