Researchers claim that over $1 trillion worth of precious metals are ready to be extracted from the Moon. It’s not even gold.
According to an article published in Planetary and Space Science, a massive amount of platinum has been accumulating under the surface of the moon.
New Scientist reports that lead researcher Jayanth Chennamangalam says that this trillion-dollar figure is based on the fact that 6,500 craters of at least one kilometer in diameter, found around the moon, are a significant source of platinum group metals (PGMs) from asteroids.
This study highlights the potential for private investments in resources found in space. It could reduce the reliance of space exploration on government funding.
Lunar mining is more feasible than mining near-Earth asteroids because the moon has a much larger range of mining locations.
Platinum is not only a popular metal for jewelry. It’s also used in an array of high-tech products, from medical devices to clean energy sources.
This year the price of precious metals has increased by over 30%, to $1,400 for a troy ounce. The increase is due to a global shortage and heightened demand in automotive and jewelry industries.
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The post, $1,000,000,000,000 in Extremely Rare Assets is Hiding on Moon and Ready to be Exploited: It Isn’t Gold may change as new information becomes available.
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