Space Mining – Boondoggle or the Next Gold Rush

If you believe that the goal of the space program should be a permanent, manned presence in space, then you believe in space mining. Historically, mining has been an integral part of the frontier. For the space frontier, mining is absolutely necessary. Any large-scale space facility must be built from materials mined in space. The reason is simple: the cost of getting material off the earth overwhelms all other costs. The cost of launching a pound of material from earth into low earth orbit ranges from $5000 to $10,000. Multiply this number by three to get to geostationary orbit. With the added expense of landing on the moon, an object is worth more than its weight in gold. Most space projects are impossible if materials must be hauled out of earth's enormous gravity well. For example, habitats (large structures in free-fall that simulate earth's gravity) and massive solar power satellites will take millions of tons of material to construct. Transportation economics alone dictate space as the source for oxygen, construction materials, and metals, among others. Space mining is not concerned with introducing materials for terrestrial use. The need for materials in space is infinite. The challenge for the mining industry is enormous.