July 29, 2014 -
The current business model for asteroid mining relies on a steady customer base for these resources in space. Such a venture may be feasible if international interest in space exploration continues to increase. Another angle on asteroid mining is to extract precious metals like platinum and return them to Earth. I calculate that a 10-meter asteroid is worth ~$10-million, with $9M in iron, nickel, and cobalt and $1M worth of platinum. Given that OSIRIS-REx costs $1-billion, we have long way to go before this business plan closes. What we really need to do is bring down the cost of accessing space.