The Economic, Technical and Legal Feasibility for Commercial Mining Activities in the Inner Solar System

Mathematics – Logic

Scientific paper

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Scientific paper

Resource economists have long argued over the future of mineral resource exploitation on Earth and its implications on the future of the world economy. The optimists are of the opinion that the increasing scarcity of resources would catalyse technological innovation in conservation, recycling and the development of substitutes along with the exploitation of previously uncommercial deposits. The more pessimistic economists have suggested that the resources available on Earth are limited and this absolute scarcity effectively imposes an expiry date on human civilisation. With the possibility of development resources from space, however, there is the idealistic potential of overriding the theories of economic scarcity with the limitless resources available to satisfy any demand that humankind needs as its civilisation continues to evolve. The concept of mining the Moon or Near Earth Asteroids for minerals that may be used on Earth is not new and there have been a substantial amount of scientific studies undertaken into the technical feasibility of such an endeavour. This paper undertakes a combined study of the economic and technical feasibility of space mining activities and presents a case for the commercial viability of commercial ventures in such mining activities, along with any legal obstacles that may be overcome for this to be achievable.

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