12 January 2015

Outer Space Mining – To Infinity and Beyond!

Outer Space Mining – To Infinity and Beyond! Outer Space Mining – To Infinity and Beyond! Outer Space Mining – To Infinity and Beyond! Outer Space Mining – To Infinity and Beyond!

We all know last year wasn't a particularly great year for the mining industry, anywhere in the world….. So now that we're heading into 2015, will we be looking towards a slow start to the industry worldwide or should we be looking up to the stars?

The concept of mining the moon and mining asteroids has been around for quite a few years. Many 'Astropreneurs' like Richard Branson and James Cameron have been investing heavily into outer space endeavours, and companies like Planetary Resources and Deep Space Industries estimate they will have the technology ready for it to be economically viable to start mining in space as early as 2020. That's only 5 years away! Don't worry - time flies! It's almost Easter!

Like the slogan on a t-shirt we used to have at Uni stated, "Earth First - We'll Mine the other Planets later"! Platinum group metals are being mined from asteroids that have crashed on Earth, so effectively we've been mining asteroids for centuries. We've been mining them on Earth, so it's about time we did it from space!

Is Space the new Frontier?

Should we be considering outer space as a new location for the mining industry?? What would be the FIFO roster? I wonder what the "camp" food would be like? Better have a good gym!! 

The next 5 years might just be the perfect time for us all to think about how our experience in the mining industry can be used in the future to mine outer space…. And what other knowledge you might like to gain to give you an opportunity to work in the same industry… just in a completely different place to that which you ever thought you would! 

Or do we just need to hang in there a little bit longer?  According to IBISWorld, while the end of 2014 and the start of 2015 will see an overall decline of 1.1 per cent in Australian mining revenues to approximately $232 billion, the 2015/16 financial year is pegged to quickly ratchet up, growing 7.1 per cent, with expectations for this upwards trend to continue into the following financial year with 2016/17 predicted to record an 8.4 per cent increase in revenues as recovery continues. The "Doubting Thomas" in most of us will believe it when we see it……

We may not need to swap our hard hats and high-vis for space suits and dehydrated meals just yet!

Mining may have been slowing down world wide - it's now time to start looking up!

To Infinity and Beyond!