
Copernical Team
Opinion: As space exploration and colonization expand, off-Earth resources will create a booming market

The drive to explore deeper into space and establish colonies on other planets has intensified over the last decade, and with it the importance of space resources extraction.
Obtaining valuable resources and minerals, even in extreme environments, has long been attractive to humans. We have a history of facing hazards in search of valuable resources. From the gold rush in the 1800s to the recent surge in space resources, humans have been willing to take risks to find and collect scarce and profitable materials.
With advances in space technology, we're on the edge of the next gold rush—but not on Earth. Based on recent scientific and engineering breakthroughs and commercial interests, off-Earth mining is expected to begin in the next decade.
Potential mining sites include the moon, Mars and its moons, asteroids and even comets. Market predictions for lunar mining, particularly lunar water, project a multibillion-dollar industry by 2050. Although theoretical, these forecasts signal a worthwhile market, with Australia as a potential leader.
The motivation for off-Earth mining is multifaceted: access to an unlimited wealth of valuable space resources, the spirit of discovering new planets and the development of spin-off technologies to be used back on Earth.
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