As I write this, NASA’s Psyche spacecraft is making its long journey to an asteroid named 16 Psyche. When it arrives, it may confirm the presence of minerals which, when multiplied by the current market rate, hold an astonishing theoretical value of around $100 quintillion. This, of course, ignores the basic economic principle of supply and demand, but highlights the immense mineral wealth that exists within our cosmic backyard.

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Ethan Hutchings is a trainee patent attorney at Reddie & Grose LLP with experience in drafting and prosecuting patent applications in major intellectual property jurisdictions worldwide. His background is in aerospace engineering, as both an engineer...