The space mining market, expected to reach $20 billion by 2035, has attracted significant attention from venture capital and government programs, including NASA’s Artemis initiative.
Permanent lunar operations target resources such as water ice in shadow craters, regolith for construction, and helium-3 for potential fusion applications.
However, although several commercial landers will reach the moon by 2025, profitable extraction remains a challenge.
Stirling Forbes, CEO of Forbes-Space, a consulting firm that advises both space and industrial companies, noted that startups face steep obstacles.
“Space startups excel at achieving that goal. But once you land, the hardest part is mining – and that’s where most space companies have zero experience,” he said. in a recent article.
Forbes highlighted that deploying and operating the necessary mining equipment requires tens of millions in upfront investments, with returns taking years to realize – conditions under which traditional mining companies thrive, but venture capital often does not.
Large-scale miners already possess capabilities that are directly applicable to alien operations. Mining giant Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO,OTC:RTPPF)for example, operates autonomous 200-ton trucks in Western Australia’s Pilbara region, at a distance of 1,500 kilometers, supported by AI-powered drilling systems and robotic material handling.
Such operations reflect the challenges that lunar mining will present, including remote management, automated extraction and processing under harsh conditions.
Analysts also point to logistical advantages of the moon over asteroids. The moon is just three days away from Earth, allowing faster responses to equipment failures, while near-Earth asteroids require months-long missions.
Moreover, NASA and international partners are actively building power systems, communications networks, and landing infrastructure on the moon, while asteroid operations require building everything from scratch.
Lunar resources, such as water ice, also have direct customers in space programs, which are converted directly into rocket fuel for Mars and space missions.
For investors and space companies, Forbes recommends focusing on partnerships rather than trying to independently master both space operations and industrial-scale mining.
Traditional mining companies are quickly securing their positions in the sector, and early partnerships could shape the rules and regulations for decades to come.
“The space mining revolution is coming, but it won’t look like the investment community expects. It will be led by companies that understand both the space above and the ground beneath our feet,” he stressed.
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Securities Disclosure: I, Giann Liguid, have no direct investment interest in any company mentioned in this article.
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