This Asteroid Is Worth $100,000 Quadrillion. Here's Why.
Space Treasure
Asteroid Psyche has been an object of interest for astronomy luminaries since its discovery. The celestial body has been popular amongst the scientific community because of its constituents, Indy100 reported. The asteroid is reportedly composed of 30 to 60% metal. As per experts, the estimated value of the rare metals in the asteroid is somewhere around $100,000 quadrillion. This is because many of the metals found in Psyche are valued high on Earth because of their variety of uses.
Asteroid Psyche
Psyche was first discovered by Italian astronomer, Annibale de Gasparis, on March 17, 1852, Indy100 reported. Gasparis named the asteroid after a Greek goddess and is mostly made of metal. Oftentimes, the asteroid is also called as 16 Psyche, because the celestial body was the sixteenth asteroid to be discovered by humans. As per astronomers, the asteroid is irregular in shape and has a surface area of 64,000 square miles, NASA reported. The asteroid is three times farther away from the Sun than Earth. It measures 173 miles in width and 144 miles in length. Multiple scientists believe that the asteroid is the exposed nickel-iron core of an early planet (also known as a planetesimal).
Composition of Asteroid Psyche
Experts have determined the Psyche asteroid's composition with the help of radar observations and by the measurements of the asteroid’s thermal inertia, NASA reported. According to the findings, there are two craterlike depressions in the celestial body. This implies that there is a significant variation of metal content on the asteroid's surface. According to experts, the planetesimal is allegedly composed of metals like platinum and palladium, which are used heavily in cars and electronics. At present, the metals reportedly believed to be found in the asteroid are just speculations, and unless astronauts manage to reach the asteroid to make a full analysis of the Psyche's surface, it will be difficult for experts to arrive at any solid conclusion.
Expedition to Psyche
The composition of metals spread across Psyche asteroid's 64,000 square miles area, has been valued around $100,000 quadrillion, Indy100 reported. The high value of metals found in the celestial body has resulted in many calls for expeditions to the asteroid. NASA recently launched a mission to explore the planetesimal. The mission left the Earth on October 2023, and will begin its investigation by August 2029, as per schedule, NASA reported. "We said ‘goodbye’ to our spacecraft, the center of so many work lives for so many years – thousands of people and a decade," said Lindy Elkins-Tanton, Psyche principal investigator at Arizona State University in Tempe during the launch. "But it’s really not a finish line; it’s a starting line for the next marathon. Our spacecraft is off to meet our asteroid, and we’ll fill another gap in our knowledge – and color in another kind of world in our solar system."
Space Mining and Funding
Companies like AstroForge and TransAstra are already researching building mines in Psyche, Live Science reported. Philip Metzger, a planetary physicist at the University of Central Florida, believes that technologically the pursuit of space mining is not a far-reaching objective. The equipment needed to mine in the asteroid must be able to withstand low-gravity and high-radiation conditions, as per experts. According to Metzger, such types of equipment have already been tested in laboratories by scientists, and need implementation. He added, that on NASA's Technology Readiness Levels scale, which rates innovations from one to nine, space mining currently sits between a three and a five. The physicist believes that with appropriate funding the technology will soon be ready for mining in asteroids. "The technologies need to be advanced — about a 6 to 7 — before we're ready to start building a flight mission," Metzger stated. "What's lacking right now is funding."