Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Mining for Metals on an Asteroid?

Details

  • Description

    Deep Space Industries CEO David Gump on the company’s plan to colonize space and mine asteroids.

  • Duration 3:33
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Well you know what that make believe family heading into space.

-- got no choice but to return but my next -- he wants to up it's even more he's planning very real space colonies.

In the very near future to -- Industry CEO David Gump he's here to explain all did it this please send really far out what you're doing as far out as you know about asteroid you're trying to track.

I'm trying to understand your company doesn't know there's another company out there explain to the viewer what you did what you're about mining asteroids and space company's go ahead.

Both the space is of resources company prospecting retrieval.

And then processing.

Space resources into products to be used in space.

Colonies are a bit away from our current plans.

We now are focusing on providing propellant.

From asteroids.

To extend the life of communication satellites that's the first major market.

Right now -- owners pay 101000 dollars a pound to get propellant to GO synchronous orbit to run their satellites.

OK let me living through another -- wing hang on let's stop right there because someone explain it to that Europe is what you're -- -- -- -- very complicated stuff.

Has your company essentially pulled back out of space an asteroid has -- have you guys accomplish that.

-- we -- at the very starting as anybody don't talk.

No and -- done that there have been some governments that have visited asteroids.

No in his Brooklyn what some of -- what's the upshot -- sit point trying to pull big rocks -- -- outer space.

Where do you guys think -- can make a profit doing that.

Initial profit comes from propel it to make communication satellites.

Last longer what a separate what you're saying that rock the asked -- it has fueling it and mineral senate.

That you guys could harvest is that what you're saying.

Exactly.

Asteroids are very diverse groups some are high in volatile like water and I think.

Others have rich veins of metal which can be used to build things in space like what kind of -- Nickel iron copper.

Trace amounts of silver and gold platinum things like that so goals -- plans that.

Yeah I'm here to say I think.

What they aren't so you.

How do you how do you stand to make a profit it seems costly to to to try for a big cataract rocks in space and bring at all and they try to make money off but I stunts so much sure.

What the analysis is here that you guys think that there's a lot of you know.

-- value in getting these rocks out of space go ahead.

The value isn't actually utilizing those rocks in space for in space markets.

Has anything up in geo synchronous orbit.

Because of the cost of launching is worth 101000 dollars a pound.

So a small -- Three the yard to five yard wide -- Has a value in billions.

For those materials that it contains.

And so our initial effort is to serve in space markets.

Trying to begin to live off the land and space rather than launching everything that we need from the ground which is very expensive.

All right David -- you're the CEO of d.'s deep space industries are really appreciate your time sir.

It sounds like a heck of a moon shot -- -- -- to be facetious there but it's really into -- you come back and tell us.

When you get an asteroid and but I what you found and it and your costs vs their profits -- that because harvesting asked for -- Wow we've never heard that -- -- -- really interesting thank you did it got really appreciate it.

-- look OK next up.

Load More