Deep space mine: The new gold rush is just out of this world

Flashing some interplanetary gold bling and sipping “space water” might sound far-fetched, but both could soon be reality, thanks to a new US law that legalizes cosmic mining. In a first, President Barack Obama signed legislation at the end of November that allows commercial extraction of minerals and other materials, including water, from asteroids and the Moon. That could kick off an extraterrestrial gold rush, backed by a private aeronautics industry that is growing quickly and cutting the price of commercial space flight.

This is absolutely a big win for us. We don’t seem crazy any more. We don’t have to work very hard to convince investors.

Meagan Crawford, vice president at Deep Space Industries

Christopher Johnson, a lawyer at the Secure World Foundation, which focuses on the long-term sustainable use of outer space, said the law sets the basis for the next century of activity in space. "Now it is permissible to interact with space. Exploring and using space’s resources has begun,“ he said. The US move conjured visions of the great opening of the United States’ Western frontier in the 19th century, which led to the California Gold Rush of 1849. But for the moment, the costs of pioneering the economic exploitation of space remain exorbitant and the risks high.

Since the passage of the law, we’ve been getting a lot of support messages and our current investors are very excited.

Chris Lewicki, president of Planetary Resources

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