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Is Mining the Moon a Possibility?

ByGoldMoney News Desk
Published 03/01/2012, 07:13 AM
Updated 05/14/2017, 06:45 AM
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This week the International Space Station’s (ISS) five major partners are meeting in Québec to discuss the future of the space station. However, they will also address an idea that many have long considered far-fetched: the idea of mining on the moon. Some scientists think that aluminium, iron and rare earth minerals could be mined from the moon, and that Helium-3 could also be extracted – which could make manned expeditions to Mars viable.

Back in 2009 the American space agency NASA encouraged mining companies to compete for the right to mine important minerals on the moon. In this context it is fortuitous that members of the ISS are meeting in Québec, as roughly 25% of all international mining companies are based in Canada. At least as far as western nations are concerned, private industry will have to provide most of the funds, as governments are hamstrung by debt and deficit problems. Recently NASA has experienced spending cuts and a drastic reduction in its staff. It does simply not have the financial means to engage in costly experimental ventures on the moon. The Pentagon – another interested party – will likely also experience notable spending cuts in the years ahead.

Scientists and researchers are especially interested in the moon’s hydrogen production potential, as it could lay the groundwork for radical advances in energy generation capabilities on Earth. Helium-3, a gas derived from hydrogen, could also be used as an energy source for humans to use on the moon. Resources extracted from the moon could help alleviate supply issues on Earth.

However, we’ve a long way to go before this idea comes closer to fruition.

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