AstroForge has launched the first commercial spacecraft attempting to travel beyond the moon, marking a significant step toward mining precious metals from asteroids. The Odin probe, roughly the size of a window air conditioner, was sent into space aboard a SpaceX Falcon 9 rocket on February 26 alongside other payloads including Intuitive Machines’ Athena lunar lander.
The spacecraft is heading toward asteroid 2022 OB5, which scientists believe contains valuable platinum deposits. However, the mission is currently facing operational challenges as the team works to establish consistent communication with the probe.
“We don’t fully understand the state of the vehicle,” said Matthew Gialich, AstroForge co-founder and CEO, in a recent update. “We do believe we’re in a power-positive state, though we don’t have telemetry coming down to confirm that.”
Despite these early difficulties, the 265-pound (120 kilograms) spacecraft has successfully separated from the launch vehicle and is on track to reach the far side of the moon within days. The complete journey to the asteroid will take approximately 300 days.
A High-Stakes Mission
AstroForge developed Odin in just 10 months, an unusually short timeframe for aerospace engineering. The company has invested less than $7 million in this reconnaissance mission, a fraction of the cost typical for deep space missions. For comparison, NASA’s OSIRIS-REx mission cost over $770 million and returned just 122 grams of asteroid material to Earth in September 2023.
“I’m terrified,” Gialich admitted in an interview with CNN. “I tell the team all the time — if you’re not scared when we launch, we went too slow. You have to live on the edge of fear to achieve greatness.”
If successful, Odin will take close-up images of asteroid 2022 OB5 to confirm its metallic composition, particularly its platinum content. This data will inform a planned follow-up mission named Vestri, which aims to land on the asteroid and test for platinum and other valuable elements.
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Economic and Environmental Implications
The potential economic impact of asteroid mining is substantial. On Earth, platinum costs approximately $900 per ounce ($25,000 per kilogram) and is increasingly difficult to extract.
“The problem is that on Earth we have mined all of the good sources of platinum group metals,” Gialich explained. “Everything we’re looking at now is thousands of meters under the Earth. It’s actually very, very difficult to mine. But we know this exists in space.”
AstroForge has developed a low-energy refining technique that can reportedly produce 1,000 kilograms of high-quality metal in three months. This innovation is crucial for making asteroid mining economically viable.
Professor Sara Russell, an expert in cosmic mineralogy at London’s Natural History Museum, confirmed the potential of metallic asteroids: “We know they are incredibly rich in elements like platinum, cobalt and nickel. They are a fantastic resource for many metals.”
Beyond economics, asteroid mining offers potential environmental benefits compared to terrestrial mining, which often causes habitat destruction and pollution.
“The way we mine today is one of the most damaging processes on Earth,” said Gialich. “We are destroying our planet to allow us to live in the way we live. Asteroid mining opens up a new gate to maintain our way of life, cost free.”
Challenges and Competition
AstroForge is not the first company to pursue asteroid mining. Two previous ventures, Planetary Resources and Deep Space Industries, folded within the past six years while chasing similar goals.
The current mission faces not only technical challenges but also regulatory considerations. The legal framework for space resource utilization is still developing, with only four countries—the United States, Japan, Luxembourg, and the United Arab Emirates—having enacted laws clarifying ownership rights for materials extracted from space.
The company has also faced criticism from the scientific community for initially declining to disclose which asteroid it was targeting. This lack of transparency raised concerns that astronomers might mistake the spacecraft for an unknown celestial object worthy of extensive study.
“What we’d like to do is work in cooperation with commercial entities to be able to make sure that science isn’t impacted in some of the most egregious ways,” said Dara Norman, president of the American Astronomical Society.
As Odin continues its journey toward asteroid 2022 OB5, AstroForge hopes to prove that private companies can achieve what previously only government space agencies could accomplish—and do it at a fraction of the cost.
“Even if we’re not successful and we fail as a company, I hope that we push this forward a little bit,” Gialich said, emphasizing his broader goal of advancing human capabilities in space.