Is the moon home to $1 trillion worth of precious metals? That's what a new study claims, signalling the possibility of an expensive resource extraction race in the coming years.

What Happened: According to a study published in Planetary and Space Science, ancient asteroid strikes deposited platinum group metals (PGMs) across the lunar surface. As per The Times, the estimated value of these deposits could reach upto $1 trillion.

Scientists analyzed the Moon's crater patterns and calculated the frequency and scale of metallic asteroid collisions. These asteroids, comprised of elements such as platinum, rhodium, iridium, and palladium, are thought to have seeded the lunar crust with up to 30 million kilograms of PGMs.

"Metallic asteroids have a significant fraction of iron, and the PGMs are found bound to it. When these asteroids strike a body such as the moon, depending on the impact velocity some of it may survive," explained Jayanth Vyasanakere, lead author of the study.

The moon does not have an atmosphere or plate tectonics, so any materials from these impacts likely remained on or near the surface, unlike on Earth, where they would be eroded or buried.

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Why It Matters: PGMs are fundamental components in modern technologies ranging from catalytic converters to electronics and green energy systems. Earth produces around 600 every year, which makes the Moon's estimated reserves potentially game-changing.

Vyasanakere highlights that the metals may exist in concentrations comparable to or better than existing mines: "PGMs in their parent asteroids are thought to be present at concentrations of 10 to 100 parts per million."

Despite the promising outlook, technical challenges must be overcome. Traditional mining techniques rely immensely on gravity and water, which are in short supply on the Moon.

"The best-case scenario -- at least in the early days of lunar mining -- is that someone might be able to bring back a few tonnes per year," Vyasanakere added, noting that the market impact would be minimal at such small volumes.

Yet, compared to asteroid mining, the Moon presents distinct advantages: it is geographically steady, completely mapped, and near enough for remotely operated machines. "The lack of gravity also makes it impossible for a spacecraft to ';land' on an asteroid," Vyasanakere observed, adding that many asteroids have unstable surfaces.

The study, conducted by experts from the Harvard and Smithsonian Center for Astrophysics and the University of Birmingham, opens the door to future missions targeting these reserves.

The study comes on the heels of the debut of the world's largest platinum miner by value, Valterra Platinum (OTC:AGPPF) on the Johannesburg Stock Exchange last week, after separating from Anglo American (OTC:AAUKF).

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