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Old 04-24-2012, 09:26 AM
 
Location: Texas
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"We have a long view. We're not expecting this company to be an overnight financial home run. This is going to take time," Eric Anderson told the Reuters news agency.


The billionaires are hoping that the real financial returns, which are decades away, will come from mining asteroids for platinum group metals and rare minerals.
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Old 04-25-2012, 04:33 PM
 
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Another article on the same story.

BBC News - Plans for asteroid mining emerge

"The multi-million-dollar plan would use robotic spacecraft to squeeze chemical components of fuel and minerals such as platinum and gold out of the rocks.
The founders include film director and explorer James Cameron as well as Google's chief executive Larry Page and its executive chairman Eric Schmidt.
They even aim to create a fuel depot in space by 2020."
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Old 04-25-2012, 05:16 PM
 
Location: Texas
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I saw a related article:

When the researchers did their analysis of the data, they made a tantalising discovery.


They found that this 121km-long rock was some 1.7 million billion tonnes in mass.


They went on to say it was on it's way to being a comet. I got the idea they might want to check it out when it comes around, again.
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Old 04-25-2012, 07:57 PM
 
Location: Texas
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Just had an idea, though not likely, these billionaires could aim it at the moon, well ahead of time. They would have plenty of time to plan...
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Old 04-26-2012, 04:14 PM
 
Location: Victoria TX
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I just looked at a video on this, which said the potential is there to increase the global GDP by "tens of billions of dollars". Ten billion dollars is the GDP of Cyprus, or Trinidad, or El Salvador. Americans pay tens of billions of dollars every year, in ATM terminal fees.
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Old 04-27-2012, 08:36 PM
 
Location: Fairfax
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Quote:
Originally Posted by jtur88 View Post
I just looked at a video on this, which said the potential is there to increase the global GDP by "tens of billions of dollars". Ten billion dollars is the GDP of Cyprus, or Trinidad, or El Salvador. Americans pay tens of billions of dollars every year, in ATM terminal fees.
We have no idea exactly how profitable this will be, the exciting thing is that private industry is leading the charge. The value of what could be reasonably mined from NEAs is measured in trillions, not billions. The real variable is how much can we lower the fixed costs. The more infrastructure that is placed in orbit, the higher the profit margins.
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Old 04-27-2012, 09:08 PM
 
Location: Texas
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If there was a lot of gold (or other precious metals), it could bring the price of it down considerably.
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Old 04-28-2012, 08:38 AM
 
Location: Victoria TX
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Quote:
Originally Posted by Brian.Pearson View Post
If there was a lot of gold (or other precious metals), it could bring the price of it down considerably.
. . . which would make it uneconomical to go and mine, and turn the R&D costs into losses. Perfect corporate wisdom -- exploit what is profitable, not what might advance the wellbeing of humanity. Short-sighted get-rich-quick schemes, escalated to the cosmic level.
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Old 04-30-2012, 10:11 PM
 
Location: Texas
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"How Billionaire Asteroid Miners Make Money -- Without Mining Asteroids"
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Old 05-04-2012, 07:15 PM
 
Location: PRC
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There has to be one who presents a different viewpoint on the thread and I might as well be the one.

Aliens have been mining asteroids for ages. What makes these guys think there will be anything left for them - or that the aliens will allow them to do it on THIER rock.

I bet the US would have something to say if another country came and planted their mining machine on the same asteroid.
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