A recent study funded by asteroid mining start-up Astroforge, conducted by a professor from the Colorado School of Mines, critically examines the actual value of metals found on asteroids.

The research categorizes asteroid metals into two main types: platinum-group metals (PGMs), which are valuable for return to Earth, and metals like iron and aluminum, which are more useful for in-space construction.

PGMs, such as Rhodium, have a high terrestrial market price, estimated around $500,000 per kilogram, making their extraction from asteroids potentially lucrative despite lower concentrations than previously thought.

Meteorite studies indicate that PGMs can be found in higher concentrations in asteroids compared to terrestrial ores, particularly in refractory metal nuggets (RMNs) found in L-type asteroids.

However, extracting RMNs is challenging due to their extremely small size and the need for advanced processing techniques that require substantial energy.

Processing metals from asteroids necessitates high-energy techniques, such as molten regolith electrolysis, complicating the establishment of sustainable mining operations due to initial power source limitations.

Research suggests that asteroids are unlikely to be composed entirely of pure metals, challenging previous assumptions about their composition and economic value.

Current costs for launching materials from Earth are approximately $10,000 per kilogram, making in-space use of cheaper metals like iron potentially viable despite their low Earth market value.

While PGMs are economically viable for Earth returns, construction metals may only hold value in space due to high launch costs from Earth.

Astroforge plans to launch a mission in January 2025 to study near-Earth asteroids, which could enhance understanding of their metallic composition and mining viability.

Discussions about asteroid mining often cite exaggerated valuations, such as the $10 quadrillion worth of the metallic asteroid Psyche, raising questions about the realism of such estimates.

Despite the myth that asteroids are composed of pure metals, even low-metal asteroids could yield economically extractable metals.