Tuesday, April 24, 2012

Asteroid mining: Is there money to be made in space?

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An intriguing new company called Planetary Resources Inc. has some questions to answer at its public unveiling on Tuesday, not least of which is: What does the firm do, anyway? Given its somewhat cryptic pledge to "overlay two critical sectors — space exploration and natural resources," most are assuming that the company hopes to pioneer the field of mining asteroids for metals and minerals. If that sounds like a ridiculous "page out of a sci-fi novel or a Hollywood movie scene," says Amir Efrati in The Wall Street Journal, Planetary Resources boasts enough space experts and deep-pocketed backers to be taken quite seriously. Are we really on the cusp of asteroid mining? Here's what you should know...

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