The treasure trove of platinum on the moon

This kind of bounty could lead to commercial exploitation

Photo composite illustration of the Moon with an orb of platinum in its interior
Platinum deposits on the moon could become a lucrative incentive for space travel
(Image credit: Illustration by Stephen Kelly / Getty Images)

The moon is likely to become the next mining hot spot, as there may be extensive platinum and other metal deposits in its craters. Guidelines about resource mining on the moon are still not solidified, so this could lead to problems with more countries and private companies trying to stake their claim. But the potential for platinum could also entice private companies to invest more in space exploration.

Mine on the moon

Countries have already been involved in a modern space race to put humans back on the moon, and the profit potential could bring more interested parties. Nobody owns the moon because of the Outer Space Treaty of 1967. But as the potential for resources becomes imminent, the rules are likely to change.

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The treaty notably "leaves key questions unanswered," said Rebecca Connolly, an adjunct senior lecturer at the University of Sydney Law School, to New Scientist. This includes "clarity on the rules and governance for ownership of extracted resources, commercial licensing rights, equitable benefits sharing, environment protection standards to avoid harm, and regulations for long-term occupation and permanent infrastructure on the moon."

To address some of the unknowns, NASA and the U.S. spearheaded the Artemis Accords in 2020. These "provide a common set of principles to enhance the governance of the civil exploration and use of outer space," said NASA. Though the accords are nonbinding, 55 countries have signed on as of last month. Russia and China, two of the most proactive countries trying to reach the moon, have not signed on.

Exploration economics

A monetary incentive for reaching the moon could change space exploration as we know it. Astronomy is "done to satiate our curiosity," said Jayanth Chennamangalam, an astrophysicist and the lead author of the study, to New Scientist. It has "very few practical applications" and is "mostly paid for by taxpayer money." If we can "monetize space resources, be it on the moon or on asteroids, private enterprises will invest in the exploration of the solar system."

While that could lead to wider research being done, it could also lead to the exploitation of the moon. It was recently listed as a threatened historic site for this very reason. "Take one last good look at the moon tonight," Luis Prada said at Vice. "There might be a time when the moon is not so innocent and pretty anymore and you only see cynical corporate greed."

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Devika Rao, The Week US

 Devika Rao has worked as a staff writer at The Week since 2022, covering science, the environment, climate and business. She previously worked as a policy associate for a nonprofit organization advocating for environmental action from a business perspective.