Asteroid Mining
- cosmofluencer
- November 9, 2023
- No Comments
By Siri Paramesh
Cosmofluencer (Season 2)
Unearthing the Future of Asteroid Mining – A Journey Through Milestones, Challenges, and Beyond
We, as humans, have always been curious. Being a part of this creation, it is very important for us to know the cause and roots of our existence. This insatiable curiosity has led humankind to explore outer space and understand the deepest of intricacies. Within the vast book of space exploration, one captivating chapter is dedicated to asteroid mining. Understanding this will give us an insight into the origins of our cosmic creation.
In this blog, we will embark on a journey to gain a profound understanding of what asteroid mining is and why it holds immense importance in the realm of economic and space exploration.
What are Asteroids?
Asteroids are rocky, metallic or icy bodies with no atmosphere. They are like small planets — an object that is neither a true planet nor a comet. Asteroids orbit within the inner Solar System. Most are located in the Main Asteroid Belt, found between the orbits of Mars and Jupiter, while a significant number are situated closer to Earth, known as Near Earth Asteroids (NEA).
Asteroids are classified according to their spectral type, which has to do with the type of light they reflect. There are mainly 3 categories:
- C-type (carbonaceous): Forming around 75% of known asteroids. Their composition includes a large amount of carbon, in addition to rocks and minerals. They have an average density of about 1.7 g/cm3.

- S-type (silicon-based or stony): They have relatively high density. Approximately 17% of asteroids are of this type, making it the second-most common after the carbonaceous C-type.

- X-group: In addition to the above, There is also an X-group that includes various types with similar spectra but likely different compositions
What is Asteroid Mining?
Asteroid Mining is the extraction of materials from asteroids, more specifically from near-earth objects. Asteroids contain many metals and minerals that are considered rare on Earth, and thus the knowledge and resources obtained from asteroid mining have the potential to revolutionize our economy and understanding of space.
The idea behind asteroid mining is to tap into the vast reserves of materials found on these celestial bodies for various purposes, this also includes the future of space exploration and addressing resource scarcity on Earth.
Asteroid mining is indeed a complex task and this endeavour comes with many technical, legal, and logistical challenges. These challenges include developing advanced technology to locate, reach, and extract materials from asteroids. There are also questions pertaining to the legal and regulatory concerns related to property rights and environmental effects.
Key Milestones and Highlights in Asteroid Exploration
Many space agencies have embarked on electrifying cosmic adventures to unlock the secrets and facts about the universe through their Asteroid missions.
- Pioneer 10 was The first spacecraft to visit an asteroid, flying past an unnamed asteroid on August 2, 1972.

- Galileo is marked as the first spacecraft to fly past two asteroids, Gaspara in 1991 and Ida in 1993. The orbiter weighed 223 kilograms at launch and measured 5.3 meters from the top to the bottom.

- NASA’s Near-Earth Asteroid Rendezvous (NEAR-Shoemaker) mission studied asteroids Mathilde and Eros.

- The European Space Agency’s Rosetta mission to a comet, also flew by asteroid (2867) Steins in 2008, and asteroid Lutetia in 2010.

- Deep Space 1 (DS1): DS1 was a technology demonstration spacecraft by NASA which flew by an asteroid and a comet. It was part of the New Millennium Program, dedicated to testing advanced technologies

- Psyche is a NASA space mission launched on October 13, 2023, to explore the origin of planetary cores by orbiting and studying the metallic asteroid 16 Psyche beginning in 2029. The spacecraft will not land on the asteroid, but will orbit it from August 2029 through late 2031.

Revolutionizing Space Exploration: From Flybys to Sample Return Missions
The continuous development of aerospace technology led to new ways of asteroid exploration: gradually shifting from flyby and orbiting to close-proximity detection methods and sample return missions.
The are a bunch of stages involved in asteroid exploration, such as:
- Landing,
- Surveying their interior with RADAR.
- Sampling
- Sample return
- Touring on the surface of an asteroid.
While the previously mentioned missions were flyby missions. Here are a few Asteroid sample return research missions: Hayabusa, Hayabusa2, and OSIRIS-REx. The very recent NASA’s OSIRIS-REx mission collected an estimated 250 grams of rocks and dust from the surface of asteroid Bennu. The mission’s goal was to collect at least 60 grams of asteroid material, but the spacecraft easily surpassed that goal.



Telescopes and Ground-based observing stations also play an important role in asteroid mining missions. For example, the Hubble Space Telescope and ground-based RADAR observatories contribute regularly to our understanding of asteroids. Several more missions, including NASA’s Psyche and Lucy, are and will keep exploring these smaller worlds. Scientists use the ground-based RADAR to explore nearby asteroids whenever possible.
The Near Future and Upcoming Space Missions
The market size of the asteroid mining market is expected to grow to $3.11 billion by 2027. Potential mining of asteroids could have profound effects on global economies and resource dynamics, including:
- Access to rare resources
- Space economy growth
- Resource security
- Space exploration/colonisation.
The most apparent impact of asteroid mining would be on the global economy. It could produce significant wealth for individuals, with astrophysicist Neil DeGrasse Tyson, among others, even claiming that the first trillionaire will be an asteroid mining mogul. To this end, some argue that promoting asteroid mining technology could also be the key to developing a future space economy, ranging from tourism to settlement.
Major powers like China are viewing space exploration for more access to the vast material and energy resources. Listing below a few upcoming missions:
Asteroid impactor/deflection plans
China plans to build an asteroid monitoring and defence system to track and attack a threatening asteroid to alter its orbit as early as 2025.
California-based Astroforge to mine space for precious metals
Early next year, a SpaceX rocket will be launching a drill to the surface of the Moon as part of its Artemis program. And a smaller spacecraft, with a much more distant destination: an asteroid that will take about nine months to reach. That ship, called the Brokkr-2, is being built by California-based Astroforge as part of its journey to commercialize mining in space. Brokkr 2, is a prototype space probe to perform a fly-by of a near-Earth asteroid to perform surveying and prospecting for a future mining mission.

Conclusion
As we continue to explore, mine, and study these enigmatic space rocks, we are promising a new era of economic growth and space exploration, revealing the secrets of our cosmic creation. Asteroid mining, as stated earlier, holds the key to rare materials and can be quoted as the “GOLD MINES OF THE COSMIC WORLD”.
PICTURES AND EXTERNAL LINKS
- A video by Kurzgesagt – In a Nutshell on asteroid mining
- PSYCHE: What NASA wants to get from ASTEROID MINING: A deeper insight into NASA’s latest PSYCHE mission and the concept of ASTEROID MINING.
- Near Earth Asteroids Tracker