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Mineral scarcity on Earth: are Asteroids the answer
Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Social Sciences.ORCID iD: 0000-0002-2425-6401
Division of Economis and Business, Colorado School of Mines, Golden, CO, USA.
Division of Economis and Business, Colorado School of Mines, Golden, CO, USA.
2020 (English)In: Mineral Economics, ISSN 2191-2203, E-ISSN 2191-2211, Vol. 33, no 1-2, p. 29-41Article in journal (Refereed) Published
Abstract [en]

Depletion of minerals and other non-renewable resources has long been a source of worry to industrial economies. This worry waxes when markets are tight and wanes when they are not. However, evidence has continued to mount that there are staggering amounts of minerals in space that are technically within our grasp. Scientific work has considered mineral availability and technical ability to mine on near earth objects. Within the last decade, a number of space related industries have gained attention. While availability and technical feasibility are both necessary conditions for this industry to develop, they are not sufficient. Rather sufficiency also requires financial feasibility. Although studies have considered the costs of mining asteroids, we are aware of no papers that model the effects on terrestrial mineral market structure with the injection of extra-terrestrial minerals. Our contribution is to consider the current state of mineral markets and provide a model of firm entry to derive implications to the market from space mined minerals entering the market. We provide a numerical simulation to demonstrate what prices asteroidal entrants might face for the injection of a variety of metals and provide an online model for others to change inputs to their asteroid and metals of choice.

Place, publisher, year, edition, pages
Springer, 2020. Vol. 33, no 1-2, p. 29-41
Keywords [en]
Mining space, Asteroids, Milling, Smelting, Magnetic precious metals, Demand, Cost
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:ltu:diva-80459DOI: 10.1007/s13563-020-00231-6ISI: 000545922300001Scopus ID: 2-s2.0-85087559319OAI: oai:DiVA.org:ltu-80459DiVA, id: diva2:1459317
Note

Validerad;2020;Nivå 2;2020-08-19 (johcin)

Available from: 2020-08-19 Created: 2020-08-19 Last updated: 2022-10-28Bibliographically approved

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Dahl, Carol

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