Russian Company Invests in Asteroid Mining

A Russian investment company, 12BF Global Ventures, has invested millions of dollars into US-based Planetary Resources, a company set up to develop satellite webs for private and government clients, and also to observe and mine asteroids. 12BF Global Ventures's Managing Partner, Ilya Golubovich, confirmed the investment and said that 12BF Global Ventures plans to invest a total of $50 million in the space industry over the next several years. Planetary Resource's latest venture will send robots into space to scout asteroids for precious metals with the hope that by 2015 it will be able to bring gold, platinum, rare earth metals, water and fuel back to Earth.  In addition to replenishing the Earth's precious metals and resources, Planetary Resources hopes the project will make space flights cheaper and quicker by turning icy asteroids into bases for hydrogen fuel production.

http://rt.com/business/news/russia-invests-asteroids-827/