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Goldman Sachs says mining platinum from asteroids is a way for bankers to earn billions and is a realistic goal. Goldman Sachs is bullish on space mining with "asteroid-grabbing spacecraft." In a 98-page note for clients, analyst Noah Poponak and his team argue that platinum mining in space is getting cheaper and easier, and the rewards are becoming greater as time goes by.
"Prospecting probes can likely be built for tens of millions of dollars each and Caltech has suggested an asteroid-grabbing spacecraft could cost $2.6bn." It is believed an asteroid the size of a football field could be worth up to £40 billion. However, bringing that much platinum back to Earth is likely to crash the precious metal market - and probably the rest of the economy with it.
(Score: 2) by kaszz on Saturday April 08 2017, @09:56AM
Precisely, and also show why economists way to often fail to comprehend and properly analyze the real world. Flooding a market will destroy the current market. But it will also create new markets that may be even more profitable. And enable others to spend resources on other things that in fact may boost the first market as well.