Space mining has long been seen as a future-forward concept, with companies dreaming of chasing down asteroids for their precious metals.
But new research suggests we may not need to go that far. The Moon — our closest neighbour — might be hiding over $1 trillion worth of platinum beneath its dusty surface.
Thousands of metal-rich craters on the Moon
A study published in Planetary and Space Science looked at over 1.3 million large craters on the Moon.
Researchers found that around 6,500 of them were likely created by asteroids rich in platinum, palladium, and iridium.
These ores are incredibly valuable: platinum is used not just in jewellery, but also in medical tools, catalytic converters, and fuel cells.
Palladium plays a key role in electronics and emissions control, while iridium is prized for its resistance to corrosion and is used in aircraft parts and scientific equipment.
Closer, easier, and potentially more profitable
While asteroid mining faces big challenges — like travelling millions of kilometres and operating in microgravity — the Moon is relatively close and has stable gravity for landings and mining. Lead researcher Jayanth Chennamangalam argues that the Moon may hold more accessible platinum than all near-Earth asteroids combined.
He also points out the potential to fund space exploration through mining profits, rather than relying on government grants. That could attract private companies and boost innovation in space tech.
Legal hurdles remain unclear
However, owning lunar resources isn’t so simple. The Outer Space Treaty of 1967 prevents countries from claiming the Moon or any celestial body. While the US has proposed the Artemis Accords to outline peaceful and fair use of space resources, major players like China and Russia haven’t signed on. That makes enforcement tricky and the rules blurry.
Still, some legal experts believe loopholes may allow for resource licensing, even if no one can own the Moon itself.
The lunar gold rush could change everything
As the US, China, and other nations ramp up lunar missions, this study adds a powerful incentive. The Moon might not just be a science destination — it could become the centre of the next big space economy. And if it really holds this much metal, the future of space mining might begin just 384,000 kilometres away.
Why go asteroid hunting when the Moon could be our richest shot at space treasure?
