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Old 08-16-2012, 09:31 PM   #1
embersyc
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Default Google wants to mine the asteroids for platinum.

http://www.bloomberg.com/news/2012-0...aboola.ent.art

Quote:
Planetary Resources Inc., an asteroid-mining venture backed by Google Inc. (GOOG) executives, said it added more billionaire investors and is nearing a partnership agreement with a “top-10” mining company.

Planetary Resources has “new billionaires to add to the list we’ve announced,” co-founder Eric Anderson said in an Aug. 3 telephone interview, declining to identify them. “There are a number of other people you know who’ve decided to come on board as investors. We’ve got a lot of people who are committed to the long-term cause.”

The venture said in April it has the backing of Ross Perot Jr., Google’s Chief Executive Officer Larry Page, Chairman Eric Schmidt and former Goldman Sachs Group Inc. Co-Chairman John C. Whitehead. The company aims to be the first to harness potentially trillions of dollars of minerals including platinum group metals by using robotic technology to mine asteroids.

Read the rest of the article on the link.

Obviously we are a long ways away from this being a reality, but I'm glad somebody is doing something to push space technology ahead even if greed is the motivating factor. Maybe once people realize there is a ton of money to be made in space NASA can get some proper funding.
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Old 08-16-2012, 09:37 PM   #2
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Default Re: Google wants to mine the asteroids for platinum.

I'm not optimistic about the results but after US shut down it's shuttle program it's good news indeed.
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Old 08-16-2012, 09:52 PM   #3
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Default Re: Google wants to mine the asteroids for platinum.

Remember when Google was just "that other search engine"? Holy shit...
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Old 08-16-2012, 10:24 PM   #4
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Default Re: Google wants to mine the asteroids for platinum.

Where do you apply for this job?
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Old 08-16-2012, 10:57 PM   #5
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Default Re: Google wants to mine the asteroids for platinum.

Quote:
Originally Posted by B-Low
Remember when Google was just "that other search engine"? Holy shit...

Seriously, who are these people? They're building cars that drive themselves, internet at speeds unheard of, have the whole country (if not the world) mapped out, and now this.
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Old 08-16-2012, 11:01 PM   #6
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Default Re: Google wants to mine the asteroids for platinum.

Quote:
Originally Posted by Loneshot
Seriously, who are these people?

Skynet
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Old 08-16-2012, 11:48 PM   #7
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Default Re: Google wants to mine the asteroids for platinum.

How can this possibly be profitable?

Launching a satellite costs hundreds of millions, and that's a relatively lightweight craft and you're only going into orbit around earth.

To launch a full on mining rig far enough to reach an asteroid with the necessary equipment to bring it all back would cost many billions. I can't imagine how much platinum you would have to get per trip to make it worth while.

Edit: Not to mention if you're bringing back "trillions" of dollars worth of platinum that shit is going to be worthless in no time.
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Old 08-17-2012, 12:04 AM   #8
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Default Re: Google wants to mine the asteroids for platinum.

Quote:
Originally Posted by B-Low
Remember when Google was just "that other search engine"? Holy shit...

So True
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Old 08-17-2012, 12:16 AM   #9
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Default Re: Google wants to mine the asteroids for platinum.

First, advertisements. Next up, rare resources. What next?
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Old 08-17-2012, 03:19 AM   #10
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Default Re: Google wants to mine the asteroids for platinum.

Quote:
Originally Posted by bmulls

Edit: Not to mention if you're bringing back "trillions" of dollars worth of platinum that shit is going to be worthless in no time.

If you use your Google search engine to promote every dumb dirty south rapper, supply and demand should maintain their proportionality
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Old 08-17-2012, 03:35 AM   #11
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Default Re: Google wants to mine the asteroids for platinum.

Quote:
Originally Posted by The Macho Man
Where do you apply for this job?
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Old 08-17-2012, 05:51 AM   #12
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Default Re: Google wants to mine the asteroids for platinum.

Quote:
Originally Posted by Loneshot
Seriously, who are these people? They're building cars that drive themselves, internet at speeds unheard of, have the whole country (if not the world) mapped out, and now this.

Someone negged me for this
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Old 08-17-2012, 07:22 AM   #13
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Default Re: Google wants to mine the asteroids for platinum.

Quote:
Originally Posted by bmulls
How can this possibly be profitable?

Launching a satellite costs hundreds of millions, and that's a relatively lightweight craft and you're only going into orbit around earth.

To launch a full on mining rig far enough to reach an asteroid with the necessary equipment to bring it all back would cost many billions. I can't imagine how much platinum you would have to get per trip to make it worth while.

Edit: Not to mention if you're bringing back "trillions" of dollars worth of platinum that shit is going to be worthless in no time.

Well they are partnering with Virgin Galactic, I assume one of the first main goals will to be to reduce mission costs to something more reasonable.

Keep in mind, most of the energy costs are just leaving the Earth's atmosphere. It's not really any harder to get to the asteroid belt once your in space, it just takes time. Getting back wouldn't be extremely difficult either.

Obviously like most Google ventures, it won't be profitable right away, but when it does start bringing profit it will be on the scale no corporation has had before.

It would be good for everybody if an oversupply brought the price down, but I think since they have no doubt spent trillions by then to get anything that the prices will reflect that.
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Old 08-17-2012, 07:23 AM   #14
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Default Re: Google wants to mine the asteroids for platinum.

Quote:
Originally Posted by Loneshot
Someone negged me for this

Probably an Apple fanboy.
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