Tech Billionaires Team Up to Mine Asteroids

Monday, 23 Apr 2012 10:47 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Tech billionaires, including the likes of Ross Perot Jr. and Google CEO Larry Page, are joining forces on a company that will mine the many tons of precious metals that are found in asteroids.

The group of wealthy entrepreneurs will announce on April 24 a new venture called Planetary Resources, Inc., a company that will use robots to scout asteroids for precious metals and set up mines to bring those resources back to Earth, reports Wired Science.

“The resources of Earth pale in comparison to the wealth of the solar system,” Eric Anderson, who founded the commercial space tourism company Space Adventures, told Wired Science. He is co-founder of a new company along with Peter Diamandis, who started the X Prize foundation, which offers prize-based incentives for advanced technology development.

The length of time to see astronomical profits and uncertain returns have driven investors away from such ventures. But those taking on Planetary Resources include Page and Google executive chairman Eric Schmidt, former Microsoft chief architect Charles Simonyi, and Perot.  Also on the list as "advisers" is filmmaker James Cameron, former astronaut Tom Jones, former JPL engineer Chris Lewicki, and planetary scientist Sara Seager.

According to Wired Science, nearly 9,000 asteroids larger than 150 feet in diameter orbit near the Earth.

The thinking is that some of those asteroids could have as much platinum as is mined in an entire year on Earth, making them potentially worth several billion dollars each.

Anderson and Diamandis, who are well known futurists, are among the most likely candidates to realize such a dream. Space Adventures has sent seven private tourists to the International Space Station while the Ansari X Prize led to a spurt of non-governmental manned spaceships.

“We have a long track record of making large-scale space ventures real,” said Diamandis.


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Mars Rover Takes 'Selfie' After Spring Cleaning

Thursday, 17 Apr 2014 23:05 PM

A recent 'selfie' taken by the Mars rover Opportunity shows it is taking full advantage of the Martian winds' cleaning p . . .

High-Tech Surveillance System Blankets Boston For Marathon

Thursday, 17 Apr 2014 20:18 PM

A high-tech surveillance system consisting of cameras connected to a network that uses a form of artificial intelligence . . .

Study: Even Casually Smoking Marijuana Can Change Your Brain

Wednesday, 16 Apr 2014 14:26 PM

Casual use of marijuana can produce changes in parts of the brain associated with emotion and motivation, according to a . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved