What is asteroid mining and how close are we to making it a reality?

The article explores the concept of asteroid mining, which involves extracting valuable materials such as precious metals (platinum-group metals, iron, nickel, cobalt) and volatiles (water, hydrogen, oxygen) from asteroids and other off-Earth bodies like the Moon. These resources could alleviate Earth’s supply constraints and environmental impacts associated with terrestrial mining, while also supporting in-space infrastructure, such as life support and rocket propellant. The Moon is also considered a target due to its potential isotopes like helium-3, which may have future applications in fusion energy. Techniques like “optical mining,” which uses concentrated sunlight for excavation, are proposed to simplify operations in microgravity. Although full-scale asteroid mining has not yet been realized, significant progress has been made through sample-return and reconnaissance missions. Notably, Japan’s JAXA Hayabusa2 mission collected and returned samples from asteroid Ryugu in 2020, providing valuable data on carbonaceous materials and water content. Similarly, NASA’s