NASA has launched a space mining company to harvest resources

The National Aerospace and Space Administration has announced its first ever space mining company. As the modern space race heats back up, the space agency has signed a deal to mine the moon of resources.

NASA's future goal of building a solid, liveable moon base for future research will require resources. The space agency is keen to use the moon's natural resources to build its future space base. That's where Lunar Outpost comes in.

NASA signs moon mining contract with Lunar Outpost

In order to mine and collect lunar resources, NASA has partnered with startup company Lunar Outpost. The startup company offered a contract of just $1 for its partnership. The space agency cut a deal to pay just 10% of that contract now, and the remaining $0.9 when they delivery their first element.

At the 36th annual Space Symposium, Administrator Bill Nelson said:

“We had contractual terms with them when they produce their first element. We would give them 10% of their contract award. I am happy to present a check for 10% of their bid. Justin, here's a check for 10 cents.”
via Space

Lunar Outpost CEO Justin Cyrus responded:

“This sets a legal and procedural framework that will be utilized for generations and decades to come for companies like ours and many others to go out and collect resources from the lunar surface from other planetary bodies and make them basically useful for humanity.”

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What does this mean?

Essentially, Lunar Outpost and NASA will be working together to harvest moondust and other elements from the lunar surface. Resources like this are said to integral to the agency's Artemis program.

Cyrus explained that the startup’s first mission will bring back just “100 grams of just lunar regolith”. However, they will also be looking “volatiles and water ice” that will production on the moon more viable.

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