Water, gases and minerals are on the Moon, as well as comets and asteroids, in large quantities, offering an ambitious option to meet increasing terrestrial demand.
In 1969, rocks were brought back from the Moon and, decades later, a Japanese spacecraft successfully landed on an asteroid and collected dust grains, first in 2005 and again in 2019.
On September 24, a NASA spacecraft — the OSIRIS-REx — will return to Earth with samples from the asteroid Bennu.
Although space mining technology is still in its infancy, governments and private entities are gearing up now for first-mover advantage.
The space mining market is estimated to be worth USD$1.99 billion by 2027 although no space mining operations exist as yet.
But the issues surrounding the industry are complex, starting with the technology and high costs.
Then there are regulations, policies and ethical questions to consider, involving national or private entities’ right to mine, distribute and sell space resources.
There are also environmental considerations involving the Earth-based sectors of the industry.
S. Vicknesan is the Senior Commissioning Editor of 360info Southeast Asia
