RATIONALE, STRATEGIES, AND ECONOMICS
FOR EXPLORATION AND MINING OF THE ASTEROIDS
Andrea Sommariva
Meta Consulting Company Ltd.
avirammos@yahoo.com
The development of off-world sources of critical minerals is creating an opportunity to
transform space activity from consumer of resources into sources of value. This paper
provides an overview of the rationale for and the feasibility of asteroid mining, based
on current technology and information. It concludes that the mining of asteroids is a
medium to long term project (20 to 30 years) and it will require a stepwise approach.
An important step in the development of asteroid mining is the confirmation, through
exploration, of the minerals' abundance on the asteroids. A mission capturing and
returning to lunar orbit a single 10 meter diameter asteroid or a rock off the surface of
a larger asteroid would accomplish this goal. This mission would also allow the testing
of automated mining and processing equipment, reducing the risks of future large-scale
asteroids mining operations. It suggests that asteroids' exploration could be carried out
through a partnership between space agencies and private space companies, whereby
the two partners can achieve their strategic interests.
Over the past decades the number of public and private actors involved in space activities worldwide
has increased. The space economy includes many commercial activities. Several mature downstream
activities have reached mass markets. They include information technology products and services, such
as satellite television and global navigation receivers. In addition, the use of satellite technology in
navigation, communications, meteorology, and Earth observation has given rise to a growing stream of
applications in such areas as air traffic control, transport, natural resource management, agriculture,
environmental and climate change monitoring, and entertainment. In 2013, the overall size of the global
space economy is at $314 billion
1
.
At present, all commercial space activities are carried out in the vicinity of Earth. Within the last
decade, a number of private initiatives have surfaced promoting deep space exploration and
development. Some of these private initiatives regard the development of space mineral resources,
particularly asteroids. This article is focusing first on the geology of the asteroids and the rationale
behind their mining. A clear understanding of the mineral resources of the asteroids and of Earth’s
current situation is necessary to evaluate the potential of space mineral resources. Second, it analyzes
the economics of these projects. Finally, the last part of the article focuses on the exploration phase and
on how space agencies and private companies could cooperate for an efficient use of limited financial
resources.
