Space Mining Industry Gains Traction, Economists Weigh Future Impact on Economy

As space agencies intensify their focus on asteroids, the space mining industry is also on the rise, garnering attention from economists. A study by Ian Lange from the Colorado School of Mines suggests that within 30 to 40 years, the production of some metals from space could surpass their Earthly production, thanks to lower launch costs and abundant asteroid resources. These metals are critical for clean energy technologies like electric vehicles, solar panels, and wind turbines. Lange argues that while future robots might mine these minerals for use in space, current methods rely on gravity, suggesting that these resources might be more practical if brought back to Earth. (Source: Wired, “Things Are Looking Up for Asteroid Mining“, 10.20.2023)