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Asteroid Mining Venture Backed by Google Execs, James Cameron Unveiled
Space.com ^ | 4/23/2012 | Mike Wall

Posted on 04/23/2012 8:32:40 PM PDT by anymouse

A newly unveiled company with some high-profile backers — including filmmaker James Cameron and Google co-founder Larry Page — has announced plans to mine near-Earth asteroids for resources such as precious metals and water.

Planetary Resources, Inc. intends to sell these materials, generating a healthy profit for itself. But it also aims to advance humanity's exploration and exploitation of space, with resource extraction serving as an anchor industry that helps our species spread throughout the solar system.

(snip)

"We're out there right now, talking to customers," Anderson said. "We are open for discussions with companies — aerospace companies, mining companies, prospecting companies, resource companies. We're out working in that field, to really open up the solar system for business."

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Technical
KEYWORDS: asteroid; commercial; private; space
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Is Bruce Willis available? ;)
1 posted on 04/23/2012 8:32:41 PM PDT by anymouse
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To: KevinDavis

Commercial space ping.


2 posted on 04/23/2012 8:33:42 PM PDT by anymouse (God didn't write this sitcom we call life, he's just the critic.)
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To: anymouse

Mining....an asteroid.....for WATER....

Ooooooh kaaaaaay.........


3 posted on 04/23/2012 8:42:37 PM PDT by gaijin
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To: anymouse
Space.com: "Poll: Will Asteroid Mining Open Up New Space Frontier?"
4 posted on 04/23/2012 8:48:38 PM PDT by anymouse (God didn't write this sitcom we call life, he's just the critic.)
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To: anymouse
Please add me to your "Yes, I'd Like Another Bong Hit" ping list.
5 posted on 04/23/2012 8:49:29 PM PDT by SpaceBar
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To: gaijin

6 posted on 04/23/2012 8:52:34 PM PDT by anymouse (God didn't write this sitcom we call life, he's just the critic.)
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To: gaijin
Mining....an asteroid.....for WATER....

Water mined in space is cheaper than water shipped from the earth's gravity well. Much, much, much cheaper. It costs about $5KUSD per pound to put something into orbit.

Water, paper, whatever.

The economics makes sense, and it's not NASA doing it, so I'm good with it.

/johnny

7 posted on 04/23/2012 8:53:49 PM PDT by JRandomFreeper (Gone Galt)
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To: SpaceBar

Sorry, you have the wrong forum.


8 posted on 04/23/2012 8:54:23 PM PDT by anymouse (God didn't write this sitcom we call life, he's just the critic.)
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To: SpaceBar
James Cameron is a forward looking kind of guy that is spending his own money. He's worth about $700 million. He didn't get there by throwing money away.

I'll eat crow if you have a net worth of over $700 million.

Otherwise, I'll go with the free-market guy that has a track record of sucess.

/johnny

9 posted on 04/23/2012 8:57:24 PM PDT by JRandomFreeper (Gone Galt)
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To: gaijin

That actually makes sense in a space-based economy. Other operations in space will need water, and extraction it from the Moon or an asteroid would be more cost-effective than shipping it up from Earth.


10 posted on 04/23/2012 8:59:38 PM PDT by Squawk 8888 (Tories in- now the REAL work begins!)
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To: anymouse
"Dear Mr. President: The canal system of this country is being threatened by a new form of transportation known as 'railroads' ... As you may well know, Mr. President, 'railroad' carriages are pulled at the enormous speed of 15 miles per hour by 'engines' which, in addition to endangering life and limb of assengers, roar and snort their way through the countryside, setting fire to crops, scaring the livestock and frightening women and children. The Almighty certainly never intended that people should travel at such breakneck speed."

-- Martin Van Buren, Governor of New York

Some folks just can't accept progress.

/johnny

11 posted on 04/23/2012 9:06:18 PM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper

So you’re saying that someone without $700 mil is unqualified to render a negative opinion of the venture?


12 posted on 04/23/2012 9:09:20 PM PDT by SpaceBar
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To: SpaceBar
Oh, you can render an opinion.

But if you aren't worth as much as Cameron, I'm going to assume it's based in ignorance.

Cameron has folks, after all, to do due diligence on the concept.

Do you? Didn't think so. So it's just another un-informed opinion worthy of being ridiculed.

/johnny

13 posted on 04/23/2012 9:12:56 PM PDT by JRandomFreeper (Gone Galt)
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To: anymouse

Since NASA will be occupied with its outreach program to the Muslim world I’m glad someone will have a space program.


14 posted on 04/23/2012 9:13:40 PM PDT by luvbach1 (Stop the destruction in 2012 or continue the decline)
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To: SpaceBar
And don't feel bad. Every breakthrough has to have it's nay-sayers that turn out to be absolutely wrong. Space, airplanes, trains....

We find them quaint an provencial.

/johnny

15 posted on 04/23/2012 9:16:36 PM PDT by JRandomFreeper (Gone Galt)
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To: luvbach1
Story of America. Can't rely on government, we have to do it ourselves if it's going to get done.

Getting government out of the way is becoming a problem, though.

/johnny

16 posted on 04/23/2012 9:17:50 PM PDT by JRandomFreeper (Gone Galt)
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To: SpaceBar
"Well-informed people know it is impossible to transmit the voice over wires and that were it possible to do so, the thing would be of no practical value."

-- Boston Post, 1865

Some folks never learn.

/johnny

17 posted on 04/23/2012 9:25:42 PM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper

Are you worth $700 mil?


18 posted on 04/23/2012 9:27:46 PM PDT by SpaceBar
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To: SpaceBar
I know better than to second guess a man worth $700 million, who is spending his own money. It's not a government program. It's a private venture.

You would think a conservative would applaud an attempt to move mankind forward, instead of making a dope-smoking comment.

"While theoretically and technically television may be feasible, commercially and financially I consider it an impossibility, a development of which we need waste little time dreaming."

-- Lee DeForest, American radio pioneer and inventor of the vacuum tube, 1926

/johnny

19 posted on 04/23/2012 9:31:59 PM PDT by JRandomFreeper (Gone Galt)
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To: anymouse

There is a question of sovereignty. Who owns these asteroids?


20 posted on 04/23/2012 9:33:37 PM PDT by citizencon
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To: citizencon
Looks like open territory to me, unless there are natives. And I have no reason to think there are.

And they will be sovereign on their own, if history rhymes. Colonies that are long distances away from central power tend to independence.

I expect that the UN Treaty will wind up getting ignored or paid off, or folded into pointy corners and inserted into sensitive UN orifices.

/johnny

21 posted on 04/23/2012 9:38:23 PM PDT by JRandomFreeper (Gone Galt)
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To: citizencon
Who owns these asteroids?

I do. I'd be willing to grant multi-year mining concessions to qualified applicants however, for the right price and conditions.

22 posted on 04/23/2012 9:47:36 PM PDT by marron (qua)
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To: JRandomFreeper

even if they never recovered a drop of water or an ounce of valuable minerals, the lessons learned and the technology developed while undertaking such a venture could be worth a fortune, priceless possibly.


23 posted on 04/23/2012 9:48:13 PM PDT by RC one (all y'all had to do was vote for Newt but noooooo, he wasn't good enough.)
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To: marron

If I remember correctly someone here on FR is currently the overlord of the universe....I think he owns the asteroid.


24 posted on 04/23/2012 9:52:41 PM PDT by superfries
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To: RC one
True dat.

You can watch hours of aircraft failure films. Overall, we learned something.

That's how humans learn. Try, fail, try again, smarter.

Some on FR would rather mock those that try than acknowledge that risktakers are the reason we advance.

/johnny

25 posted on 04/23/2012 9:53:43 PM PDT by JRandomFreeper (Gone Galt)
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To: superfries; Lazamataz
If I remember correctly someone here on FR is currently the overlord of the universe....I think he owns the asteroid.

Laz, you got a claim?

/johnny

26 posted on 04/23/2012 9:55:10 PM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper
I'll go with the free-market guy that has a track record of sucess.

A lot of Hollywood types are multimillionaires, and like James Cameron, they're not really into free markets, except for their own product. They're mostly crazy libs that border on communists, and judging from Cameron's comments in the past, he's closer to that than a "free market" guy.

You can call him a good film maker if you like, but free market guy he's not.......

27 posted on 04/23/2012 10:04:18 PM PDT by Lakeshark (NbIttoalbl,cRwIdtaa)
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To: Lakeshark

Rich people are not fans of free markets and competition, they want to hinder competition as much as possible.


28 posted on 04/23/2012 10:05:02 PM PDT by dfwgator (Don't wake up in a roadside ditch. Get rid of Romney.)
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To: dfwgator
Some rich people understand free markets and how good they are for everyone, a lot of them get guilt ridden and kowtowed into being embarrassed for what they have produced (and made).

It's a strange thing, sometimes a bit like Stockholm syndrome.

29 posted on 04/23/2012 10:09:22 PM PDT by Lakeshark (NbIttoalbl,cRwIdtaa)
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To: Lakeshark
The Google guys, however, are, and he's hooked his wagon that that star.

And Elon Musk at SpaceX is a free-market kind of guy.

And Peter Diamandis is pretty big on free-markets, too.

No, heavy hitter free-market types are headed into space with billions of dollars.

And they have a track record of success.

/johnny

30 posted on 04/23/2012 10:11:44 PM PDT by JRandomFreeper (Gone Galt)
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To: dfwgator
And some not-rich people here on FR would rather mock people that are trying to improve technology with their own money. Read up the thread to find a couple of examples.

/johnny

31 posted on 04/23/2012 10:14:57 PM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper
the Google guys are huge anti free market types, they support all of Obama's communist ideas and worse, just not for their own business. I don't know about the other guys.

Sorry, Stockholm syndrome and elite university training is alive and well in our so called captains of capitalism (not all, but those guys for sure).

32 posted on 04/23/2012 10:15:31 PM PDT by Lakeshark (NbIttoalbl,cRwIdtaa)
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To: Lakeshark
Most of them don't have 'elite university training' Lots of them are drop-outs. Google started with a few servers in a college dorm.

I don't know how much you have heard the google guys speak, but they do support free markets.

They also drink the go-along-to-get-along kool-aid, like many here on FR do.

So they ain't my kind of conservative.

But they know where their money came from, and they turn and snap at government when it messes with their nest. Like many here on FR, that are ok with government bans on whatever, but proclaim they want freedom.

/johnny

33 posted on 04/23/2012 10:21:12 PM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper; LS

pinging the Master of the Universe....please pick up the white courtesy phone in the hotel lobby.....


34 posted on 04/23/2012 10:21:28 PM PDT by superfries
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To: anymouse

Unless they have some new type of propulsion, there is no way that this could possibly be cost effective. The cost of fuel it takes to even leave Earth is ridiculous, unless they somehow manufacture their hardware in space...which I think would be more practical in the long run. Get a huge station/factory up in orbit in about 100 pieces, put it together, get staff up there, start constructing hardware.


35 posted on 04/23/2012 10:34:49 PM PDT by IamCenny
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To: IamCenny
Did you know that Musk is using Matlab for SpaceX? Off the shelf software?

NASA freaked, but he did manage to orbit and retrieve a capsule.

Fuel cost is small. Government cost is huge.

/johnny

36 posted on 04/23/2012 10:41:00 PM PDT by JRandomFreeper (Gone Galt)
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To: IamCenny
I checked on some numbers from NASA. It cost about USD$2M per launch of the shuttle for fuel (depending on how you lok at the solid fuel, $2M is the high end. Liquid fuels at market prices cost about $200K). The average cost per launch worked out to be around $1.2B.

Fuel is the least expensive part.

/johnny

37 posted on 04/23/2012 10:50:50 PM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper

“And Elon Musk at SpaceX is a free-market kind of guy.”

~~~Musk said that he believes the best way for society to help reduce the problems of climate change is to impose a tax on carbon dioxide emissions. Instead, the government has been using “indirect” subsidies, such as those for electric cars.

“The ideal would be to tax CO2,” said Musk.~~~


38 posted on 04/23/2012 11:25:38 PM PDT by running_dog_lackey
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To: JRandomFreeper
The Google guys are mostly from Stanford and University of Michigan (radically leftist universities). These are the guys who accepted locks and serious CCCP oversight from communist China in order to serve that country.

I love free markets, believe in them, think they are simply the best economic system for everyone. The Google guys only snap at gubmint when it affects them, they are not true free market guys, or they would not support the regime like they do.

There is a difference between James and Dagny Taggert in Ayn Rand's books. The Google guys are more like James, get the gubmint on your side, donate to the bad guys, and don't give a fig for what you are doing to the entire system.

Sorry, these guys are naive at best, brilliant at what they do, but ignorant of what their support is doing to the system.

39 posted on 04/24/2012 12:23:27 AM PDT by Lakeshark (NbIttoalbl,cRwIdtaa)
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To: JRandomFreeper

How far will they have to travel to get to any asteroids, what’s the point? There are no settlements in space, establish colonies on the moon or mars before we start mining space rocks. Bringing stuff back to Earth is a waste of time IMO. Mine some space rocks for water, and bring it to Earth? WHY?


40 posted on 04/24/2012 1:23:43 AM PDT by IamCenny
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To: anymouse
Image and video hosting by TinyPic
41 posted on 04/24/2012 4:18:12 AM PDT by cartan
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To: IamCenny
Mine some space rocks for water, and bring it to Earth?

That's not the intent. Water mined in space is used to support operations in space. Broken down for fuel or to breath.

No-one is talking about importing water from space to earth. That would be idiotic.

/johnny

42 posted on 04/24/2012 6:22:14 AM PDT by JRandomFreeper (Gone Galt)
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To: Jack Hydrazine; ELS; ToxicMich; Cronos; A_perfect_lady; Art in Idaho; perplyone; TheOldLady; ...

43 posted on 04/24/2012 4:59:01 PM PDT by KevinDavis (Go Mitt Go!!!)
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To: JRandomFreeper

And a Democrat, it is worth nothing.


44 posted on 04/24/2012 5:05:48 PM PDT by FreedomPoster (Islam delenda est)
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To: anymouse

We should start on the moon. It’s the closest thing, and *relatively* easy to get to should a rescue need to happen. Better that than out at the Kuiper Belt to start.


45 posted on 04/24/2012 5:27:47 PM PDT by wastedyears (There can be only one.)
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To: gaijin

WATER = H2O = propelant = fuel for those in Rio Linda.


46 posted on 04/24/2012 5:29:13 PM PDT by PIF (They came for me and mine ... now it is your turn ...)
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To: gaijin
A single platinum-rich space rock 1,650 feet (500 meters) wide contains the equivalent of all the platinum-group metals ever mined throughout human history, company officials said.

That sounds like a bit more of a haul than water...

Besides, who says these craft have to be manned or fast? An ion drive might take you a year (or longer) to get out and back... but if the mining vessel is automated, who cares? Send it off, wait two years, rake in cash...

47 posted on 04/24/2012 5:45:20 PM PDT by Charles H. (The_r0nin) (Hwaet! Lar bith maest hord, sothlice!)
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To: JRandomFreeper

I was using water as an example of how idiotic it would be, how cost effective would it be for them to even bring back precious metals?


48 posted on 04/24/2012 6:34:38 PM PDT by IamCenny
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To: IamCenny
I don't know. I haven't seen the details. Neither have you.

But I do know that trash-talking cutting edge technology and commerce is a pretty good way to go wrong.

Telegraph, telephone, radio, television, nuclear energy, space travel and many more have all had their nay-sayers. Who wound up looking like fools, 100 or 30 years later.

/johnny

49 posted on 04/24/2012 6:39:32 PM PDT by JRandomFreeper (Gone Galt)
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To: gaijin

This wouldn’t be necessary if environmentalists let us mine more on Earth.


50 posted on 04/24/2012 7:39:13 PM PDT by tbw2
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