For instance, a study by Ian Lange of the Colorado School of Mines considers the potential—and challenges—for a fledgling industry that might reach a significant scale in the next several decades, driven by the demand for critical metals used in electronics, solar and wind power, and electric car components, particularly batteries.
While other companies are exploring the controversial idea of scooping cobalt, nickel, and platinum from the seafloor, some asteroids could harbor the same minerals in abundance—and have no wildlife that could be harmed during their extraction.
Lange’s study, coauthored with a researcher at the International Monetary Fund, models the growth of space mining relative to Earth mining, depending on trends in the clean energy transition, mineral prices, space launch prices, and how much capital investment and R&D grow.
By their assessment, metallic asteroids contain more than a thousand times as much nickel as the Earth’s crust, in terms of grams per metric ton.
Electric vehicles and their batteries need about six times the minerals conventional cars do, and they require both nickel and cobalt in significant quantities.
The Democratic Republic of Congo accounts for 70 percent of cobalt production, for example, while nickel primarily comes from Indonesia and the Philippines, and Russia and South Africa have most of the global supply of platinum-group metals.
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For instance, a study by Ian Lange of the Colorado School of Mines considers the potential—and challenges—for a fledgling industry that might reach a significant scale in the next several decades, driven by the demand for critical metals used in electronics, solar and wind power, and electric car components, particularly batteries.
While other companies are exploring the controversial idea of scooping cobalt, nickel, and platinum from the seafloor, some asteroids could harbor the same minerals in abundance—and have no wildlife that could be harmed during their extraction.
Lange’s study, coauthored with a researcher at the International Monetary Fund, models the growth of space mining relative to Earth mining, depending on trends in the clean energy transition, mineral prices, space launch prices, and how much capital investment and R&D grow.
By their assessment, metallic asteroids contain more than a thousand times as much nickel as the Earth’s crust, in terms of grams per metric ton.
Electric vehicles and their batteries need about six times the minerals conventional cars do, and they require both nickel and cobalt in significant quantities.
The Democratic Republic of Congo accounts for 70 percent of cobalt production, for example, while nickel primarily comes from Indonesia and the Philippines, and Russia and South Africa have most of the global supply of platinum-group metals.
The original article contains 701 words, the summary contains 215 words. Saved 69%. I’m a bot and I’m open source!