Saladman said:
At least two companies are looking at capturing and mining a platinum-group asteroid, and more people are talking about it (long).
Unfortunately the majority of such projects are wishful thinking or
even scam, because their calculations tend to ignore the consequen-
ces of the sale of significant amounts of rare resources on Earth.
To use platinum as an example, the total annual production is about
200 tons, a volume of less than 10 cubic meters. Someone who de-
livers a few more cubic meters of it to Earth will cause the price to
fall so far that asteroid mining of platinum becomes unprofitable af-
ter only one or two missions - and if he delivers more than a few cu-
bic meters, the lowered price will make terrestrial mining of plati-
num unprofitable, too.
A current example of the problem is the Diamond Cartel, which has
to spend much of its profits to buy diamonds in order to keep them
as far away from the market as possible, because their sale would
ruin the price and make their mines unprofitable. De Beers current-
ly has diamonds with a theoretical value of about 5 billion USD sto-
red away which cannot be sold because their sale would destroy the
diamond market.
In other words, mining the asteroids for rare resources tends to be
financially self defeating and would be a sure way to make powerful
enemies on Earth.