Mining precious metals from asteroids: what is the true value of these cosmic rocks?

Several American companies have already announced their plans to begin mining operations on asteroids in the near future. Currently, the most valuable asteroid in the Solar System is considered to be (16) Psyche, with the value of its precious metals estimated at 10,000,000,000,000,000,000,000 US dollars. In October of last year, NASA launched a research probe to study this celestial body, which is expected to confirm or refute this valuation. But how realistic is the estimated value of the minerals on asteroid (16) Psyche? Scientists, with the support of AstroForge, a company planning to mine asteroids, described in their article what metals are available on asteroids and whether they are truly worth the amounts suggested by calculations, according to ScienceAlert.

The authors of the article state that metals on asteroids are divided into two distinct types: those worth transporting to Earth and those that are not. Scientists believe that platinum group metals (PGMs), known for their extremely high value and rarity, should be brought to Earth, as they can be applied in various modern technologies.

On the other hand, metals such as iron, aluminum, and magnesium can be mined from asteroids. However, transporting them to Earth is not economically viable, as they are relatively inexpensive and can be used for constructing large structures in space.

Scientists note that when there is no heightened demand for space metals due to their high cost, it is challenging to quantitatively assess their value. For instance, the cost of launching 1 kg of payload into space can reach $10,000, while a kilogram of iron costs about $100. However, PGMs, particularly rhodium, can be valued at up to $500,000 per kg.

The authors of the article argue that asteroids composed of pure metal, such as (16) Psyche, are pure fiction. While they may contain a wealth of valuable metals, including very rare ones, making their extraction economically viable, their actual value does not reach astronomical figures.

Based on studies of meteorites that have fallen to Earth, which are fragments of asteroids, scientists have concluded that PGMs, although having a lower concentration than initially assumed, still possess a significantly higher concentration than their terrestrial equivalents.

Specifically, a material known as refractory metal nugget (RMN) can have concentrations of PGMs orders of magnitude higher than anything found on Earth. RMNs are primarily found on L-type asteroids, which are relatively rare. However, RMNs themselves are very small, making them extremely challenging to process, yet there are still more platinum group metals on asteroids than on Earth.

As for metals intended for use in space, their abundance is approximately as high as initially predicted, but they are difficult to process, according to the scientists. Mining operations on asteroids will require not only cutting-edge equipment but also very powerful energy sources, such as large solar power stations in space. However, it would be preferable to mine metals from asteroids to make this cheaper. Thus, a dilemma arises.

Scientists suggest that accurate assessments of the value of metals on asteroids may not come from Earth-based observations but from in-situ studies conducted by spacecraft. For example, AstroForge plans to send probes to near-Earth asteroids in the near future to evaluate their value and determine if they indeed consist of a significant amount of precious metals.

We will only learn in 2029 whether asteroid (16) Psyche is the most valuable celestial body in the Solar System when NASA's probe arrives there.