Space Mining: A New Horizon in Space Exploration?

With the worlds unrenewable resources running low, entrepreneurial humans are setting their sights on the bigger picture. And we’re not just talking about unexplored regions of planet Earth. In a new horizon for space exploration, scientists are toying with the idea of mining valuable metals sourced from the cosmos.

Luxembourg leads the way in space exploration

Luxembourg has emerged as a key player in the possibility of asteroid mining, with the European nation backing research that could lead to the construction of the world’s first interplanetary commercial mine. It’s a farfetched concept, yet if it succeeds investors could stand to make incredible returns. The country’s government recently confirmed that it will be channeling cash into space mining companies, as well as setting up a legal framework that guarantees backers access to any profits.

Étienne Schneider, the country’s deputy prime minister says “Our aim is to open access to a wealth of previously unexplored mineral resources, on lifeless rocks hurtling through space, without damaging natural habitats.”

“We will support the long-term economic development of new, innovative activities in the space and satellite industries as a key high-tech sector for Luxembourg. At first, our aim is to carry out research in this area, which at a later stage can lead to more concrete activities in space,” adds Schneider.

The challenges of staking claim

One of the major challenges lies in the 1967 outer space treaty, a document that labels space as public property. This means no person or country can claim dominion over asteroids or planets. However, this was challenged recently when Barack Obama approved a new law that gave US citizens the right to claim their own asteroids, and mine for resources.

Already there are two major US companies vying to open the first commercial mine on an asteroid. Both Deep Space Industries and Planetary Resources have welcomed Luxembourg’s commitment to the cause, and hope to see the country emerge as a trail blazer in space exploration.

Jean-Jacques Dordain, former director general of the European Space Agency and Luxembourg’s governmental adviser on the project asserts that it’s a brave move, saying “This initiative is a clear demonstration that Europeans are innovative and able to take risks when the stakes are high.”

If mining does come to light on intergalactic asteroids, science will play an integral role in developing production techniques. ‘Low Energy, Low Temperature Liquid Source Evaporation’ looks at the conversion of liquid into a homogenous vapour, and how next generation techniques are making the process faster, and more efficient.   

Image via Flickr Creative Commons. Photo credits: Sweetie187