Space: The final gold rush frontier
Last week the company Planetary Resources held a press conference to discuss whether the production of precious metals on Near Earth Asteroids might soon become a reality.
Analysts, commodity producers and metals traders agree that Earth’s precious metal reserves are steadily decreasing. In South Africa, gold is often extracted at depths of up to 6,000 metres, which is leading to big increases in production costs. According to recent analysis from the World Gold Council – an umbrella organisation representing miners, traders, and gold exporters – the volume of gold extracted throughout human history would only fill three and a half Olympic swimming pools, or 8,000 cubic metres.
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- Bullion India