Scots 21st century prospector Mitch Hunter-Scullion says there's money in them thar asteroids

Scots 21st century prospector Mitch Hunter-Scullion says there’s money in them thar asteroids

It’s the marketing strategy that would have been lifted straight from the script of a Hollywood sci-fi blockbuster.

A Scottish entrepreneur is bidding to launch a brand new, multi-billion-pound gold rush – by mining in outer house.

Mitch Hunter-Scullion, 23, is in search of £2.three million to construct a satellite tv for pc able to figuring out platinum metallic deposits on near-Earth asteroids.

And though it could appear to be the science of the long run, asteroid mining is predicted to grow to be huge enterprise because the celestial our bodies are believed to be filled with treasured metals and minerals.

Nasa estimates the whole worth of assets locked in asteroids is equal to $100 billion (£75 billion) for every individual on Earth.

The Asteroid Mining Corporation headed by Mr Hunter-Scullion has grow to be the primary firm in the nation to affix the trade of the long run.


He has a plan of motion that would see mining begin in ten years time.

But first house entrepreneur has to launch the UK’s first asteroid mining mission and is in search of £2.3m to construct a satellite tv for pc able to figuring out platinum-group metallic deposits on near-Earth asteroids.

The Liverpool Hope University scholar hopes to launch the Asteroid Prospecting Satellite One (APS1) in 2020 from India to conduct a spectral scan and decide if there are “viable candidates” for mining.

He calculates single metallic asteroid of 25 metres in diameter, incorporates roughly 29 tonnes of platinum price round £725m.

“Yes, I think it feasible,” he stated. “Our purpose is to develop floor breaking know-how that may finally allow the extraction, processing and use of supplies derived from the numerous thousands and thousands of asteroids identified to exist close to Earth.


“The APS1 might be our first step to reaching this success. The APS1 might be a spectroscope house telescope which can collect knowledge on track asteroids and can act as a check for a few of our applied sciences which we’ll scale up later for precise mining missions.

“Our crowdfunding campaign to help us finance the cost of the APS1 is now up and running and we’re confident we can attract sufficient investment.”

Mr Hunter-Scullion who arrange AMC after finishing my dissertation at Liverpool Hope University on asteroid mining added: “Whilst researching for it I realised that there have been few corporations which have been arrange with the intentions of mining an asteroid, with none being in the UK.


“It was a subject that fascinated me and once I completed college I made a decision to arrange AMC and start engaged on growing know-how which can open up the probabilities of an off-Earth industrial market.”

With no earlier enterprise expertise, Mr Hunter-Scullion obtained assist from Business Gateway Glasgow and is now working working to permit the mining to be executed legally, He is working with the International Institute of Air and Space Law at Leiden University in the Netherlands to draft a proposal for a UK Space Resources Activities Bill.

The firm consider this laws is important to the event of the house mining trade inside the UK because it permits British based mostly corporations the rights to prospect for and extract mineral assets from asteroids, the moon and different celestial our bodies.

Mr Hunter Scullion isn’t alone in recognising the potential of asteroids.

The first asteroid firm, Planetary Resources, was based in 2012 by Diamandis, Chris Lewicki and others in Washington, USA. Within a 12 months the US firm Deep Space Industries was arrange by Rick Tumlinson, Stephen Cover and a bunch of others.

Bankers from Goldman Sachs additionally hope to construct an ‘asteroid-grabbing spacecraft’ to make billions from mining house metals.

A 98-page report from the banking funding firm claimed final 12 months that mining asteroids for treasured metals in the close to future is a ‘lifelike’ purpose.

“Prospecting probes can likely be built for tens of millions of dollars each and Caltech [California Institute of Technology] has suggested an asteroid-grabbing spacecraft could cost $2.6bn,” the report stated.

No asteroid has but been instantly sampled, however Nasa goals to vary that with its plans to ship a probe to the mineral-rich asteroid 16 Psyche.

16 Psyche is situated in the big asteroid belt between Mars and Jupiter, is likely one of the most mysterious objects in the photo voltaic system, and may very well be price a small fortune.

It is seen as a 130 mile-wide lump of metallic, made up of iron, nickel and uncommon metals, together with gold, platinum and copper.

Nasa introduced in January 2017 that it supposed to ship a probe to the asteroid to pattern its chemical make-up in 2022.

It was calculated that the iron in 16 Psyche alone, could be price £eight,072 quadrillion.

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