|Planetary Resources' craft captures small water-rich asteroids for extraction of resources. Credit: Planetary Resources|
"There be gold in them hills" or so the saying goes. In this case it's platinum and other precious metals on asteroids and the moon. Two start-up companies are attempting to enter the science realm and make a business and entertainment out of the idea that these sources in space can be mined and brought back to Earth. Such metals can be used in cell phones and other electronics. Water that can be extracted also can be used for space missions.
Planetary Resources, backed by such names as James Cameron and Google executives Larry Page and Eric Schmidt, will hold a press conference today at 1:30 p.m. ET to announce what it calls a "new space venture with a mission to help ensure humanity's prosperity."
"The company will overlay two critical sectors - space exploration and natural resources – to add trillions of dollars to the global GDP. This innovative start-up will create a new industry and a new definition of natural resources," the press conference details states.