Jun 22, 2017 | Updated: 01:05 PM EDT

Helium 3 & Platinum Abundance Attracts Mining Investors Lunar Race

May 18, 2017 06:55 PM EDT

Astronaut David Scott gives salute beside the U.S. flag July 30, 1971 on the moon during the Apollo 15 mission
(Photo : NASA/Liaison)

Besides the prospect of gaining riches in the quest to mine mineral resources from the moon, Google has put up a prize money for its Lunar Xprize worth $20 million and a bonus of $4 million for the first team to detect water. The promise of Helium 3 and Platinum as the abundant minerals for mining is another reason why private conglomerates and government space programs are in a hurry to make that move in mining the minerals.

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A private firm from Florida, Moon Express wants to be the first lunar spacecraft to step on the moon, roll for 500 meters, detect water, and send high definition images back to Google to win its Lunar X Prize plus the water detection incentive. Though lunar racers expect to spend up to seven times that much cost in their bids to finish first, it is the potential of Helium 3 and Platinum that drives them to mine the moon.

Moon Express is set to take off in 2020 for the lunar race. Its mission: one scoop of lunar dirt to bring back to earth. That rare scoop of moon dirt will initially determine the surface composition. Moon Express also plans to transform and categorize the lunar soil in jewelry value and sell it to rich interested personalities on earth. Helium 3 and Platinum remains to be seen.

The quest for moon mining is not only in the sights of Moon Express, other rich conglomerates are aiming for the abundance of helium 3 and platinum. Several business startups are also gearing for the lunar quest. China is a key player for the race to the moon. An interested racer from a small nation of Luxembourg expresses its participation to join the fray. The promise of riches when moon mining rolls out will come from space minerals. The anticipated rise of trillionaires are seen to come from this industry, reports SPACE.

A futuristic energy source for instance, in the form of Helium 3 can fuel the earth's power requirements for thousands of years, experts say. The harnessing of energy using fusion technology will do the job to harness the properties of helium 3 that is abundant in the lunar surface. The possibility of mining platinum is another prized commodity to be extracted from the moon and asteroids floating in space that contains this precious metal, reports Yahoo News.

Another common Earth commodity is fetching interest when lunar racers are in space - Water is sought after for their useful properties that will provide humans with their basic needs when in space. Water broken down produces Hydrogen for fuel and Oxygen for humans. These elements are also essential in rocket fuel production.Helium 3 and platinum are still top priorities for the mission.

According to experts, the moon could be the earth's eighth continent. It is a whole new world open for exploration and settlement for humankind. Moon landings will soon be a thing that humans will enjoy in the future. Fasten seatbelts and get set for the lunar quest.


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