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Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled

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Re: Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled

#161

If we suddenly have large amounts of previously expensive (rare or difficult to extract) metals available, what will this do to commodity markets? Would prices be driven down? If the price of $mineral goes down below a certain level, demand has to go up for continued asteroid mining to be viable. What future activities (apart from the obvious, like catalytic converters) might provide this demand?

I'm by no means an expert on the topic, and I don't have any specific examples to cite, but it seems like an almost weekly occurrence to read about some cool new technology that will 'never' be economically viable, due to the cost of the 'unobtanium' required to mass produce it (holy long sentence batman...).

It seems likely that the end result of a massive influx of rare materials would simply make 'never' happen a whole lot sooner. While the price would obviously fall (likely by quite a significant amount, that's kinda the point), I doubt it would fall to the point of being 'worthless.'

Re: Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled

#162

Earlier quoted context omitted.

The intent is to use the material in orbit. It costs loads of money to send stuff to orbit (e.g. for the ISS) and this could be cheaper, especially for bulky stuff. Bringing it all the way back to the surface is not worth the energy required.

The intent is to use the water in orbit, but they're saying they'll bring the platinum down here. If you're already in earth orbit, going back to the surface doesn't take much energy.

If we want to move stuff around in space what matters is the delta v or change in velocity. Fortunately since we are de orbiting a satellite, we can use aerobraking http://en.wikipedia.org/wiki/Aerobraking. So we just need to slow down the craft and a make fall with a parachute. If we had to lift the mass off the moon or mars we would have to spend a lot of money. Just getting it to the surface of the earth from orbit is much much cheaper.

Re: Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled

#163
post #88

Earlier quoted context omitted.

All it would take to get governments back into the game is some private firm proving the value of resources that can be mined there. If governments get a clue of how valuable space real estate, energy and resources can be. Expect a space race, like weapons race. In fact you can expect wars on the basis of who controls which asteroids and who gets to stay where on mars.

I can see perhaps the Chinese and maybe the Russians looking to own asteroids, but that would require they pull out of several international treaties (not that big of a deal). For the West, their model has always been government-backed private monopolies (Hudson's Bay Company, East India Company, United Fruit, modern oil companies, etc). The American government would be more than happy to let Planetary resources do t…

Huh? They would have to pull out of treaties to own asteroids, but there's nothing preventing them from mining them.

Re: Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled

#164

Earlier quoted context omitted.

If you're going to bombard something for military purposes, the most effective technique involves using a very large number of nuclear weapons, which is well within the capabilities of anyone who would try to bombard the earth from space. Back during the Space Race, the idea that the Russians could put something into orbit wasn't just a wound to the national pride, it was a technical demonstration of the fact that th…

If nobody noticed it being set up then it could be assumed to be a natural event.

A little late for that, now.

However, it's easier to claim that a mining asteroid crashing into your enemy was an act of sabotage/accident/non-national terrorism than a rain of nukes with your signature on them.

Re: Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled

#166

> "at 1:30 p.m. EDT (1730 GMT) Tuesday (April 24) during a news conference at Seattle's Museum of Flight." I'm not in America. Does anyone know where I can see this live online?

http://www.spacevidcast.com/live/

10:30 AM PDT.

Re: Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled

#167
post #115

Earlier quoted context omitted.

By most definitions narcissism is self-love, inwards pointing. Going to space for the betterment of humankind's future doesn't seem to fit.

Don't they go to space to enrich themselves by mining asteroids?

I'm pretty sure that if these people, with their background, were only looking to get even richer. They would use their time to invest on something here on earth.

Re: Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled

#168

If we suddenly have large amounts of previously expensive (rare or difficult to extract) metals available, what will this do to commodity markets? Would prices be driven down? If the price of $mineral goes down below a certain level, demand has to go up for continued asteroid mining to be viable. What future activities (apart from the obvious, like catalytic converters) might provide this demand?

It's just a question of efficiency, if the cheapest way to get platinum is asteroid mining then once it starts it can out compete traditional platinum mining.(1) Generally speaking as the price for a commodity drops the market for that commodity increases more than the price drop. AKA, if gold costs X, and you can produce gold for 1/2 the price then expect to sell more than 2x as much gold. With Oil being a classic example, it's used to make roads because it's so cheap vs. being a better road surface.

1) Not that anyone directly mines for just platinum it tends to be a byproduct of the refining process for things like nickel, copper or gold. Even 'platinum' mines end up producing platinum, palladium, rhodium, ruthenium, iridium and osmium rather than just platinum. Still, it significantly influence the profitability of such mining operations to the point where if the price drops many mines will slow down production.

Re: Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled

#169
post #4

This NY Times article has a lot more information: http://www.nytimes.com/2012/04/24/science/space/in-pursuit-o... . It's wonderful to see people spending huge amounts of money to expand the reach of humanity instead of our capacity for narcissism. Startups like these give me hope for the future.

"'The company is cash flow positive, already,' Mr. Anderson said." How is this possible?

It's a slightly deceiving statement. A company can be "cash flow positive" as long as they are bringing in more cash (by any means) than they are paying out (for any reason).

A company that gets a $1m loan then spends $100k would be "cash flow positive".

Re: Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled

#170
post #96

It really bugs me when billionaires do the same thing I would do with billions of dollars before I have billions of dollars to do them with. Seriously. Space mining and pressure from environmentalism is going to turn this whole field into rivers of gold ... in the sky.

Agreed. I've been pondering ways to bootstrap space-based mining and manufacturing for a long, long time and while I believe that I have some solid ideas, I just don't have the capital to do anything about it in the least.

They'll probably be looking to hire engineers in the next few years tho. If you've got some skills and knowledge that could be helpful. Then there's still time. :-)
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