Planetary Resources Plans to Mine Asteroids

Planetary Resources, Inc. announced that it plans to begin prospecting on near-earth asteroids, with its eventual goal being to mine the asteroids for materials such as precious metals.

As quoted in the press release:

Resource extraction from asteroids will deliver multiple benefits to humanity and grow to be valued at tens of billions of dollars annually. The effort will tap into the high concentration of precious metals found on asteroids and provide a sustainable supply to the ever-growing population on Earth.

Peter H. Diamandis, co-founder and co-chairman of Planetary Resources, commented:

Many of the scarce metals and minerals on Earth are in near-infinite quantities in space. As access to these materials increases, not only will the cost of everything from microelectronics to energy storage be reduced, but new applications for these abundant elements will result in important and novel applications.

Click here to read the full Planetary Resources, Inc. press release.