Psyche asteroid’s staggering worth

Psyche asteroid’s staggering worth. The asteroid’s extraordinary “value” might indicate potential contributions to the emerging space mining sector.

You’ve likely heard about the estimated value of the asteroid 16 Psyche, the focus of NASA’s upcoming Psyche mission, which stands at $100,000 quadrillion. But determining the actual monetary worth of an asteroid is quite a complex endeavor.

Psyche is situated in the primary asteroid belt, orbiting the sun between Mars and Jupiter. Scientists theorize that it might be the exposed metallic core of an ancient protoplanet. According to the Psyche mission’s lead scientist, Lindy Elkins-Tanton, if the metals found on Psyche were on Earth, they would surpass the entire global economy in value.

Psyche asteroid’s staggering worth: M-type asteroid

However, it’s crucial to note that these metals are not on Earth, nor anywhere near it. Nevertheless, this remarkably high estimate highlights the potential significance and impact of the Psyche mission, not just in terms of planetary science but also in the context of the burgeoning asteroid mining industry.

Psyche is categorized as an M-type asteroid, indicating its metallic nature, although the specific type of metal it comprises remains somewhat uncertain. Scientists employ spectroscopy as a method to ascertain the composition of celestial bodies. This technique disperses the light emanating from an object into a spectrum, effectively providing each object with a unique “spectral fingerprint.”

Regrettably, metal does not possess a distinctive spectral fingerprint, as explained by Vishnu Reddy, a professor at the University of Arizona’s Lunar and Planetary Laboratory, who has authored numerous studies on 16 Psyche. While spectroscopy can reveal the metallic nature of an object, it cannot precisely identify the particular metal it consists of.

Psyche’s surface

Radar-based approaches demonstrate that Psyche’s surface exhibits high reflectivity but do not divulge the specific nature of the reflective material, as mentioned by Reddy. It is widely postulated by many scientists that Psyche’s surface primarily comprises nickel and iron, considering the prevalence of these elements in asteroids.

To supplement these observations, scientists utilize computer simulations and analyze the extensive impact craters on Psyche’s surface. This approach aids in deducing the material composition necessary for the asteroid to withstand the collisions that resulted in these craters. Wendy Caldwell, a scientist at Los Alamos National Laboratory, revealed that some of her most promising findings, including those from a 2020 study, indicate that the asteroid could be composed of Monel, a metal primarily consisting of nickel and copper, which is believed to be representative of metallic objects in space. (These simulations also employed Monel as the impacting metal.)

“We can’t definitively determine its composition,” Caldwell explained. However, these models help scientists identify viable materials, with further clarity anticipated upon the spacecraft’s arrival. Unfortunately, the wait is a lengthy one, as the Psyche spacecraft is not expected to reach its destination until 2029.

Therefore, irrespective of Psyche’s exact composition, it is highly likely that it contains an abundance of metal. Estimating values using current markets can produce enormous figures, like Elkins-Tanton’s $100,000 quadrillion estimate for iron alone.

Psyche asteroid’s staggering worth: The prohibitive costs

However, there are currently no plans or technology in place to mine Psyche. Even if it were possible to extract materials from the asteroid and transport them to Earth, the prohibitive costs associated with such a venture would outweigh their value, according to Philip Metzger, a planetary physicist at the University of Central Florida.

Nonetheless, some companies, like AstroForge, have expressed intentions to engage in asteroid mining. Metzger believes that asteroid mining will become a reality and a profitable endeavor, with the necessary technology potentially being developed in the coming decades. Smaller asteroids, including M-type asteroids, are likely to be the initial focus of asteroid miners.

Asteroids rich in materials like clay contain substantial water resources, which could be valuable for producing rocket fuel in off-world settlements. Companies may also find it profitable to directly mine precious metals like platinum.

Metzger highlighted that one of the significant challenges in asteroid mining is ensuring equitable global access to the resources. Current resource access inequalities on Earth are a significant issue, and he envisions future industry regulations addressing it.

Therefore, visiting Psyche primarily aims to enhance our understanding of M-type asteroids. This knowledge will help prepare future asteroid miners for what they might encounter on asteroids closer to Earth.

Studying M-type asteroids will directly benefit mining operations on nearby M-type asteroids.

Read the original article on space.com

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