This start-up is planning to mine asteroids for precious metals
AstroForge, a California-based start-up founded by Matt Gialich and Jose Acain in 2022, is making strides in the burgeoning field of asteroid mining. The company's primary goal is to extract platinum group metals (PGMs) from asteroids, particularly those abundant in metal. These PGMs have diverse applications, from jewelry manufacturing to the development of cancer-fighting drugs. AstroForge's innovative approach involves sending a compact refinery into space, to mine these precious resources and return them to Earth.
AstroForge's first mission took off in 2018
AstroForge embarked on its first mission, Brokkr-1, in April of the previous year. The mission involved launching a small satellite equipped with a refinery system into space. While the demonstration of this refinery is still pending, Gialich confirmed that the mission yielded valuable insights. This pioneering venture marks an important step in AstroForge's ambitious plan to mine asteroids for precious metals.
AstroForge will vaporize metals as part of extraction process
AstroForge has developed an artificial intelligence system to track and lock onto asteroids as their spacecraft makes its final approach. The company's extraction plan involves vaporizing the metals from an asteroid, a process they've successfully tested on Earth under conditions simulating those in space. This year, in collaboration with US-based Intuitive Machines, AstroForge plans to send a spacecraft to fly by a metallic asteroid for imaging and compositional analysis.
Future of asteroid mining depends on financial viability
Despite skepticism about the practicality and cost-effectiveness of asteroid mining, Gialich remains optimistic. He believes that, "Going out and securing resources from space is this Holy Grail," adding that we're at an inflection point where such endeavors are becoming feasible. However, he clarified that the real question isn't about physical possibility but financial viability. This perspective underscores the challenges and potential rewards in this emerging field.
