The increasing demand for metals like copper, cobalt, and platinum, which are essential in the production of everyday electronics, has led companies to explore new avenues for mining. While scientists believe that vast reserves of these metals exist deep within Earth’s molten core, mining at such depths is impractical due to extreme temperatures and conditions. As a result, some companies have turned their sights to asteroids in the hopes of tapping into vast metal-rich resources.

NASA launched a groundbreaking scientific mission in October 2023 to study the asteroid Psyche, a celestial body believed to contain metals such as platinum, nickel, iron, and possibly even gold. Planetary geologists and scientists eagerly anticipate the mission’s findings as they could provide valuable insights into the composition and structure of a planetary core similar to Earth’s. The exploration of Psyche presents a unique opportunity to study these metals without relying on indirect measurements or laboratory simulations of Earth’s core conditions.

Upon arrival at the asteroid’s orbit in 2029, the data gathered from the mission will shed light on the types and quantities of metals present on its surface, as well as the minerals hosting these valuable resources. This information not only aids scientists in understanding the formation and evolution of planetary bodies but also captivates the interest of companies considering asteroid mining endeavors.

Asteroids, formed billions of years ago during the early stages of our solar system’s development, come in various sizes and compositions. Some asteroids, like Psyche, are predominantly composed of metals, potentially originating from collisions between astronomical objects in the early solar system. NASA’s spacecraft will analyze the asteroid’s surface, providing valuable insights into its composition.

The notion of mining asteroids parallels the principles applied on Earth. Companies seek mineable deposits with high metal purity and assess the feasibility and affordability of extraction. However, asteroid mining poses unique challenges, including the development of infrastructure for mining and transportation of extracted materials over millions of miles back to Earth, which is currently a technological feat yet to be achieved.

Companies involved in asteroid mining have already begun contemplating approaches, drawing from processes employed on Earth. Remote operations using spacecraft and robots would be required to carry out mining activities on the asteroid’s surface. The resulting materials would then be transported back to Earth via specially designed spacecraft.

While the impact of asteroid mining on the global economy remains uncertain, the prospect of an influx of valuable metals into the market could potentially lead to decreased values. Nonetheless, the Psyche mission serves as a pivotal step in unveiling the untapped potential of space resources and unraveling the mysteries of Earth’s core.