A mining research expert says Zimbabwe’s platinum industry could suffer if current efforts by international scientists to source the metal from outer space are successful.
Lyman Mlambo, chairman of the Institute of Mining Research at the University of Zimbabwe, said asteroid mining could have far-reaching effects on Zimbabwe’s platinum industry.
On September 8, the National Aeronautics and Space Administration (NASA) launched the Origins, Spectral Interpretation, Resource Identification, Security-Regolith Explorer (OSIRIS-Rex).
OSIRIA-Rex’s mission is to travel to the asteroid Bennu and return with a sample of thousands of tonnes of platinum, the main source of income for Zimbabwe, which is the world’s number three platinum producer.
NASA is an independent agency of the executive branch of the United States federal government responsible for the civilian space programme as well as aeronautics and aerospace research.
The latest NASA mission would show if asteroid mining will be a real threat to the global platinum industry.
“Obviously increased platinum production from asteroids will threaten the market share of world producers,” Mlambo told the Financial Gazette. “Zimbabwe currently produces six percent of the world’s primary platinum production, South Africa 73 percent and Russia 14 percent.”
Mlambo said if the platinum could be sourced in bulk from asteroids, this would have serious effects on the local industry and the economy as a whole.
“In Zimbabwe platinum is a major revenue earner both for the mining companies and for government (tax revenue), contributing 3,5 percent to Gross Domestic Product, five percent of exports, 3,2 percent of fiscal revenue, 37 percent of foreign direct investment and employs almost 9 000 people.
