• 2 hours The Silver Plunge Continues
  • 18 hours 7 COVID Vaccine Stocks To Plan Upside Moves
  • 1 day Rhodium Climbs Reaches Record Highs
  • 2 days Tesla Tumbles After Battery Day Fails To Impress
  • 2 days Three Energy ETFs To Watch This Decade
  • 3 days What To Do With $2 Trillion In Suspicious Bank Transactions?
  • 4 days How The Stock Market Predicts Electoral Victory
  • 4 days Tesla's "Battery Day" Could Deal A Blow To Cobalt Miners
  • 5 days New TikTok Deal Hopes To Bypass National Security Concerns
  • 5 days Where Will Gold Go From Here?
  • 6 days COVID-19 Is Fueling A Pastic Waste Crisis
  • 6 days Gold Output Set To Decline
  • 7 days Uber And Lyft Look To Go Electric
  • 8 days COVID-19 Is Crushing Palladium Demand
  • 9 days This ‘Once-Boring’ Tech Company Is Now Super Hot
  • 10 days Will Air-Based Protein Be Our Future Food?
  • 10 days Google Pledges To Go Carbon-Free By 2030
  • 11 days A New Twist In The TikTok Saga
  • 11 days Gold Inches Closer To $2,000
  • 12 days Delivery Drones Are Coming Sooner Than You Think
Not Even Safe Havens Are Safe Anymore

Not Even Safe Havens Are Safe Anymore

Safe havens falling with stocks…

The Mining Industry Still Has a Human Rights Problem

The Mining Industry Still Has a Human Rights Problem

Nine years after the implementation…

Mining.com

Mining.com

Mining.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

Contact Author

  1. Home
  2. Commodities
  3. Other

Researchers Push To Limit Space Mining

Mining

Martin Elvis, senior astrophysicist at the Smithsonian Astrophysical Observatory in Cambridge, and Tony Milligan, a philosopher at King’s College London, collaborated on a study that concludes that humans should be allowed to mine only one-eighth of eligible planets, moons and asteroids, leaving 85% of the solar system untouched.

As companies get closer to developing technologies that allow them to extract mineral resources from outer space bodies, the researchers consider the discussion regarding what will be allowed and what will not has to happen now.

The rationale for adopting the one-eighth principle now is that it may be far easier to implement restrictions at an early stage, rather than later.

“If we don’t think about this now, we will go ahead as we always have, and in a few hundred years we will face an extreme crisis, much worse than we have on Earth now,” Elvis told The Guardian. “Once you’ve exploited the solar system, there’s nowhere left to go.”

The researchers base their predictions on the fact that, for example, the global production of iron has doubled once every 20 years since the 1800s, from some 450,000 tonnes to about 2 billion tonnes in 2016.

Given humanity’s never-ending desire for more, Elvis and Milligan predict that if the growth rate of mining in the solar system is of 3.5% per year, the one-eighth of the mineable solar system would last for 400 years. The foundations that underlie this hypothesis are the estimated amount of precious metals, minerals and other materials that exist outside our planet, such as the amount of iron contained in the asteroid belt, whose eighth part is more than a million times greater than all of the Earth’s iron ore reserves.

In the researchers’ view, four centuries should be enough time for Earthlings to find other sources of minerals or solutions to their technological needs.

By Mining.com 

More Top Reads From Safehaven.com

Back to homepage

Leave a comment

Leave a comment