> The metals that make-up this one-of-a-kind asteroid could, according to some, be worth $10,000 quadrillion.
Multiplying quantity with current price is not reasonable way to estimate value of metals in asteroids.
Based on the global mineral rents to global GDP ratio (0.45%) I would estimate that if you had large metal and mineral ingot warehouse that would satisfy all demand for next 100 years, you might be able to get $50-$60 trillion for it at tops. Probably less.
(Mineral rents are the difference between the value of production for a stock of minerals at world prices and their total costs of production.)
Ok, but here's the thing: its not really an amount measurable in money. Let's use 'civilizations' instead. It's many times the metals that entire civilizations are built upon. Whatever 'valuation' we give it in a title, its undeniably a game-changer.
Whether its actually accessible or even profitable to mine, is another subject entirely. Remember, the Earth's core is quadrillions of times more iron than that tiny asteroid, and nobody is getting excited about that. Even though its a billion miles closer.
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[ 3.2 ms ] story [ 25.0 ms ] threadMultiplying quantity with current price is not reasonable way to estimate value of metals in asteroids.
Based on the global mineral rents to global GDP ratio (0.45%) I would estimate that if you had large metal and mineral ingot warehouse that would satisfy all demand for next 100 years, you might be able to get $50-$60 trillion for it at tops. Probably less.
(Mineral rents are the difference between the value of production for a stock of minerals at world prices and their total costs of production.)
Whether its actually accessible or even profitable to mine, is another subject entirely. Remember, the Earth's core is quadrillions of times more iron than that tiny asteroid, and nobody is getting excited about that. Even though its a billion miles closer.