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Wednesday, April 25, 2012

Tycoons to tap asteroids for gold

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Source: gulfnews.com - 

Group seeks to use robotic ships to squeeze rocket fuel and precious minerals out of the lifeless rocks 

Washington: A group of high-tech tycoons wants to mine nearby asteroids, hoping to turn science fiction into real profits.

The mega-million dollar plan is to use commercially built robotic ships to squeeze rocket fuel and valuable minerals like platinum and gold out of the lifeless rocks that routinely whiz by Earth. One of the company founders predicts they could have their version of a space-based gas station up and running by 2020.

“ It is the stuff of science fiction, but like in so many other areas of science fiction, it's possible to begin the process of making them reality” Thomas Jones, former astronaut

The inaugural step, to be achieved in the next 18 to 24 months, would be launching the first in a series of private telescopes that would search for rich asteroid targets.

Several scientists not involved in the project said they were simultaneously thrilled and skeptical, calling the plan daring, difficult - and highly expensive. They struggle to see how it could be cost-effective, even with platinum and gold worth nearly $1,600 an ounce. An upcoming NASA mission to return just 2 ounces (60 grams) of an asteroid to Earth will cost about $1 billion.

To read more visit >> gulfnews.com


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