Are you about starting an Asteroid mining company? If YES, here is a detailed sample Asteroid mining business plan template & feasibility report you can use for FREE. There are money spinning businesses that are monopolized by wealthy people and accredited investors and one of such businesses is Asteroid mining. This business is indeed profitable, but you must be ready to scale through very high barriers before launching this type of business.
If you are a billionaire entrepreneur considering starting a mining business and you have what it takes to start this type of business after you must have conducted your market research and feasibility studies, then the next step to follow is to write a good business plan; a detailed blueprint of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your products.
Below is a sample Asteroid mining business plan template that will help you write your own.
A Sample Asteroid Mining Company Business Plan Template
1. Industry Overview
Mining is an all-encompassing term that includes the extraction of minerals occurring naturally; solids, such as coal and ores; liquids, such as crude petroleum; and gases, such as natural gas. Mining also includes quarrying, well operations, milling (e.g., crushing, screening, washing, flotation), and other preparations generally undertaken at the mine site, or as a part of mining activity.
The exploration and development of mineral properties are also included, as are services performed on a contract or fee basis in the development or operation of mineral properties. Mining operations are classified, by industry, on the basis of the principal mineral produced, or, if there is no production, on the basis of the principal mineral for which exploration or development work is in process.
The mining of culm banks, ore dumps, and tailing piles is also classified as mining according to the principal mineral product derived. Asteroid mining is the exploitation of raw materials from asteroids and other minor planets, including near-Earth objects.
Hard rock minerals could be mined from an asteroid or a spent comet. Precious metals such as gold, silver, and platinum group metals could be transported back to Earth, whilst iron group metals and other common ones could be used for construction in space.
Asteroids are appealing for numerous reasons. They have small gravity fields, so it makes it easier to place spacecraft and mining equipment on the surface. It’s also easier to launch off an asteroid. S-type asteroids carry little water but look more attractive because they contain numerous metals including: nickel, cobalt and more valuable metals such as gold, platinum and rhodium.
Recent studies conducted by Caltech put the cost of an asteroid-mining mission at $2.6bn – perhaps not surprisingly the same estimated cost of NASA’s erstwhile ARM. It might sound a lot, but a rare-earth-metal mine has comparable set-up costs of up to $1bn and a football-field-sized asteroid could contain as much as $50bn of platinum.
Asteroid mining operations require special equipment to handle the extraction and processing of ore in outer space. The machinery will need to be anchored to the body, but once in place, the ore can be moved about more readily due to the lack of gravity.
However, no techniques for refining ore in zero gravity currently exist. Docking with an asteroid might be performed using a harpoon-like process, where a projectile would penetrate the surface to serve as an anchor; then an attached cable would be used to winch the vehicle to the surface, if the asteroid is both penetrable and rigid enough for a harpoon to be effective.
Because of the distance from Earth to an asteroid selected for mining, the round-trip time for communications will be several minutes or more, except during occasional close approaches to Earth by near-Earth asteroids. Hence, any mining equipment will either need to be highly automated, or a human presence will be needed nearby.
If you are considering starting an asteroid mining business, then you should ensure that you obtain all the necessary permits from both the local government, state government and the federal government. The truth is that this type of business does pretty well when it is strategically positioned.
Asteroid mining business is a green and profitable business venture and it is open for any entrepreneur that has the financial and technical capacity to mine asteroid. You should also create a robust distribution network all across the united states of America and other countries of the world.
2. Executive Summary
Beyond Earth® Asteroid Mining Corporation Ltd. is a private registered mining company under the incorporation law of the United States of America. The company will be based in the Boise Basin in Boise County – Idaho, USA.
Our business goal as an asteroid mining company is to become the number one choice of jewelry making companies and other companies that make use of nickel, cobalt and more valuable metals like gold, platinum and rhodium in the United States and other countries of the world.
As a business, we are willing to go the extra mile to invest in owning our own environmentally friendly solid mineral processing plant and also to hire efficient and dedicated employees. We have been able to secure permits and licenses from relevant departments both at the local, state and federal level in the United States of America.
Beyond Earth® Asteroid Mining Corporation Ltd. is set to redefine how standard outer space mining business should be run all across the world. This is why we have put plans in place for continuous training of all our staff.
No doubt the demand for nickel, cobalt and more valuable metals such as gold, platinum, rhodium, gold and silver are not going to plummet any time soon which is why we have put plans in place to explore all available market around the United States and other countries of the world. In the nearest future, we will ensure that we create a wide range of distribution channels all across the United States of America and other countries of the world.
Beyond Earth® Asteroid Mining Corporation Ltd. will at all-time demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely.
Beyond Earth® Asteroid Mining Corporation Ltd. is a partnership business that will be jointly owned by Tony Kenneth, Tyson Barker and Karis Murphy (They are all accredited investors). Tony Kenneth who is the Chief Executive Officer of the Company has a Degree in Mining Technology with over 20 years’ experience working in related industry as a senior manager cum mining engineer prior to starting Beyond Earth. He will be working with a team of professionals to build the business and grow it to enviably height.
3. Our Products and Services
Beyond Earth® Asteroid Mining Corporation Ltd. is established with the aim of maximizing profits in the asteroid mining line of business. We want to compete favorably with the leaders in the industry which is why we have but in place a competent team that will ensure that our processes and products are of the highest standard.
We will work hard to ensure that Beyond Earth® Asteroid Mining Corporation Ltd. is not just accepted in the United States of America, but also in other countries of the world where we intend supplying our products. We will explore all the available asteroid mining options such as;
- Bringing raw asteroidal material (nickel, cobalt and more valuable metals such as platinum and rhodium, gold and silver) to Earth for use.
- Processing it on-site to bring back only processed materials, and perhaps produce propellant for the return trip.
- Transport the asteroid to a safe orbit around the Moon, Earth or to the ISS. This can hypothetically allow for most materials to be used and not wasted.
4. Our Mission and Vision Statement
- Our vision as an asteroid mining company is to get our products all across the United States of America and other countries of the world; we want to become the number one brand in the asteroid mining industry.
- Our mission is to establish a standard and world class – environmentally friendly asteroid mining company that will favorably compete with leaders in the industry on the global stage. We want to build an asteroid mining company that will be listed amongst the top 5 asteroid mining companies in the world.
Our Business Structure
As part of our plan to build a top flight asteroid mining company in Boise Basin, Boise County – Idaho that will favorably compete with leaders in the industry, we have perfected plans to get it right from the onset which is why we are going to ensure that we have competent employees in our company.
The kind of asteroid mining company we intend building and the business goals we want to achieve is what informed the amount we are ready to spend to ensure that we build a business with dedicated workforce with robust distribution network.
In view of that, we have decided to hire qualified and competent hands to occupy the following positions at Beyond Earth® Asteroid Mining Corporation Ltd.;
- Chief Executive Officer (Owner)
- Asteroid Ore Manager
- Human Resources and Admin Manager
- Sales and Marketing Officer
- Gold and Silver Mining Casual Workers
- Customer Service Executives
5. Job Roles and Responsibilities
Chief Executive Officer – CEO (Owner):
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Asteroid Ore Manager
- Responsible for overseeing the smooth running of operations of asteroid spacecrafts and mining equipment from base
- Makes sure that quality is maintained at all times
- Maps out strategies that will lead to efficiency amongst workers in the organization
- Responsible for training, evaluation and assessment of the workforce
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Ensures that our asteroid mining site and processing plant meets the expected safety and health standard at all times.
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Defines job positions for recruitment and managing interviewing process
- Carries out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversees the smooth running of the daily business activities.
Sales and Marketing Manager
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer purchases
- Identifies, prioritize, and reach out to new partners, and business opportunities et al
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with customers
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
Asteroid Operation Workers
- Responsible for operating spacecrafts, excavators and other machines and equipment in the asteroid mining site
- Responsible for handling the mining and processing of nickel, cobalt and more valuable metals such as gold, silver, platinum and rhodium et al.
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
Client Service Executive
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products
- Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries (answer customer queries regarding our gold and silver ore mining business)
6. SWOT Analysis
Due to our drive for excellence when it comes to running a standard asteroid mining company, we were able to engage some of the finest business consultants in the United States of America to look through our business concept and together we were able to examine the prospect of the business to be sure we have what it takes to run it.
In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in the United States of America. Here is a of what we got from the critically conducted SWOT Analysis Beyond Earth® Asteroid Mining Corporation Ltd.;
Our strength lies in the fact that we have state of the art asteroid mining equipment and trucks that has positioned us to meet the demand of our clients even if the demand tripled. Another factor that counts to our advantage is the background of our Chief Executive Office; he has a robust experience in the industry and also a pretty good academic qualification to match the experience, which has placed him amongst top flight players in the asteroid mining industry.
We are not ignoring the fact that our team of highly qualified and dedicated workers will also serve as strength for our organization.
We do not take for granted the fact that we have weaknesses. The fact that we are setting up an asteroid mining company in the United States might pose a little challenge. In essence our chosen location might be our weakness. But nevertheless, we have plans to launch out with a big bang. We know with that, we will be able to create a positive impression.
Scarcity is a fundamental economic problem of humans having seemingly unlimited wants in a world of limited resources. Since Earth’s resources are not infinite, the relative abundance of asteroidal ore gives asteroid mining the potential to provide nearly unlimited resources, which would essentially eliminate scarcity for those materials.
If space program funding, either public or private, dramatically increases, this situation may change as resources on Earth become increasingly scarce compared to demand and the full potentials of asteroid mining—and space exploration in general—are researched in greater detail.
The threats or difficulties in this industry include the high cost of spaceflight, unreliable identification of asteroids which are suitable for mining, and ore extraction challenges. Thus, terrestrial mining remains the only means of raw mineral acquisition used today. unfavorable government policies can also pose a threat to our business.
7. MARKET ANALYSIS
- Market Trends
Asteroid mining could potentially revolutionize space exploration. The C-type asteroids’ high abundance of water could be used to produce fuel by splitting water into hydrogen and oxygen. This would make space travel a more feasible option by lowering cost of fuel.
While the cost of fuel is a relatively insignificant factor in the overall cost for low earth orbit manned space missions, storing it and the size of the craft become a much bigger factor for interplanetary missions. Platinum and gold are raw materials traded on terrestrial markets, and it is impossible to predict what prices either will command in the future when resources from asteroids become available.
For example, platinum traditionally is very valuable due to its use in both industrial and jewelry applications, but should future technologies make the internal combustion engine obsolete, the demand for platinum’s use may well decline and decrease the metal’s long term demand.
Another trend in this line of business is that most registered and well organized asteroid ore mining companies look beyond the market within their locations or state; they ensure that they strike business deals with leading jewelry making companies in the United States of America and other countries of the world.
The truth is that as an asteroid mining company, if you are able to become a vendor to one or more jewelry making giants in the world, you will always smile to the bank. Currently, the quality of the ore and the consequent cost and mass of equipment required to extract asteroid are unknown and can only be speculated.
Some economic analyses indicate that the cost of returning asteroidal materials to Earth far outweighs their market value, and that asteroid mining will not attract private investment at current commodity prices and space transportation costs.
Other studies suggest large profit by using solar power. Potential markets for materials can be identified and profit generated if extraction cost is brought down. For example, the delivery of multiple tonnes of water to low Earth orbit for rocket fuel preparation for space tourism could generate a significant profit if space tourism itself proves profitable.
8. Our Target Market
When it comes to supplying product from asteroid mines, there is indeed a well-defined market. This goes to show that the target market for products from an asteroid mining companies is far reaching, you can create your own make niche yourself to serve a specific purpose.
In view of that, we have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to supply raw nickel, cobalt and more valuable metals such as gold, silver, platinum and rhodium et al to the following organizations;
- Jewelry production companies
- Electronic components manufacturing companies
- Medical device manufacturers (Platinum is used to make essential components for a range of medical devices, including pacemakers, implantable defibrillators, catheters, stents and neuromodulation devices as well as biomedical device components)
- Automobile manufacturers (The most important use of platinum is in vehicles, as a catalytic converter, facilitating the complete combustion of unburned hydrocarbon passing through the exhaust.)
- Art and culture companies
- Nickel, cobalt and more valuable metals such as gold, silver, platinum and rhodium et al merchants
Our competitive advantage
Some of our competitive advantage are availability of resource, ability to forward sell production when appropriate and of course the ability to comply with environmental laws.
As a standard and licensed asteroid mining company, we know that gaining a competitive edge requires detailed analysis of the demographics of the surrounding area and the nature of existing competitors. And even if you are successful at first, new competitors could enter your market at any time to steal your regular customers. Hence, we will not hesitate to adopt successful and workable strategies from our competitors.
Another competitive advantage that we have is the vast experience of our management team, we have people on board who understand how to grow business from the scratch to becoming a national phenomenon. Our large and robust distribution network and of course our excellent customer service culture will definitely count as a strong strength for the business.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Beyond Earth® Asteroid Mining Corporation Ltd. is established with the aim of maximizing profits in the industry in the United States of America. We are going to ensure that we do all it takes to sell our products to a wide range of customers. Beyond Earth® Asteroid Mining Corporation Ltd. will generate income by simply supplying the following;
- Nickel, cobalt and more valuable metals such as gold, silver, platinum and rhodium et al Silver
10. Sales Forecast
One thing is certain when it comes to asteroid ore mining business, if your business is strategically positioned and you have good relationship with players in the jewelry manufacturing industry and other related industry, you will always attract customers cum sales for the business.
We are well positioned to take on the available market in and around the United States of America and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.
We have been able to examine the business, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Beyond Earth® Asteroid Mining Corporation Ltd., it is based on the location of our business and other factors as it relates to asteroid mining startups in the United States of America;
- First Fiscal Year (FY1): $3 Billion
- Second Fiscal Year (FY2): $5 Billion
- Third Fiscal Year: $7.5 Billion
N.B: This projection was done based on what is obtainable because recent studies conducted by Caltech put the cost of an asteroid-mining mission at $2.6bn – perhaps not surprisingly the same estimated cost of NASA’s erstwhile ARM.
It might sound like a lot, but a rare-earth-metal mine has comparable set-up costs of up to $1bn and a football-field-sized asteroid could contain as much as $50bn of platinum. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
Before choosing a location to start Beyond Earth® Asteroid Mining Corporation Ltd., we conducted a thorough market survey and feasibility studies in order for us to be able to penetrate the available market in the United States of America and beyond. We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.
We hired experts who have good understanding of the asteroid mining business to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market for our products.
In summary, Beyond Earth® Asteroid Mining Corporation Ltd. will adopt the following sales and marketing approach to sell our products;
- Introduce our business by sending introductory letters to production companies and other stakeholders in and around the United States of America that make use of Nickel, cobalt and more valuable metals such as gold, silver, platinum and rhodium et al
- Advertise our products in international magazines, newspapers, local TV and radio stations
- List our business and products on yellow pages’ ads (local directories)
- Leverage on the internet to promote our product cum business
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing (referrals)
11. Publicity and Advertising Strategy
Regardless of the fact that our asteroid mining company is a standard one that can favorably compete with other leading asteroid mining companies in the United States of America and in any part of the world, we will still go ahead to intensify publicity for our products.
Beyond Earth® Asteroid Mining Corporation Ltd. has a long term plan of exporting our product all across the United States of America and other countries of the world. This is why we will deliberately build our brand to be well accepted in Boise County – Idaho before venturing out to other cities all across the United States of America and other countries of the world.
Here are the platforms we intend leveraging on to promote and advertise Beyond Earth® Asteroid Mining Corporation Ltd.;
- Place adverts on both print (international newspapers and magazines) and electronic media platforms
- Sponsor relevant community programs
- Install our billboards in strategic locations all around major cities in the United States of America
- Position our Flexi Banners at strategic positions in the location where we intend getting customers to start patronizing us
12. Our Pricing Strategy
At Beyond Earth® Asteroid Mining Corporation Ltd. we will keep the prices of our products below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance from well – established electronics and jewelry manufacturing companies that would require constant supply of raw Nickel, cobalt and more valuable metals like gold, silver, platinum and rhodium et al.
- Payment Options
The payment policy adopted by Beyond Earth® Asteroid Mining Corporation Ltd. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Beyond Earth® Asteroid Mining Corporation Ltd. will make available to her clients;
- Payment via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our clients make payment for our products without any stress on their part.
13. Startup Expenditure (Budget)
There are six categories of cost considered for an asteroid mining venture and they are;
- Research and development costs – $200 million
- Exploration and prospecting costs – $300 million
- Construction and infrastructure development costs – $500 million
- Operational and engineering costs – $500 million
- Environmental costs – $300 million
- Time cost – $200 million
- Other cost – $100 million
We would need an estimate of $2.1 billion to successfully set up a standard and highly competitive asteroid mining company in the United States of America. Please note that this amount includes the salaries of all the staff for the first month of operation and also operating license fee.
Generating Funds/Startup Capital for Beyond Earth® Asteroid Mining Corporation Ltd.
Space ventures are high-risk, with long lead times and heavy capital investment, and that is no different for asteroid-mining projects. These types of ventures could be funded through private investment or through government investment. For a commercial venture, it can be profitable as long as the revenue earned is greater than total costs (costs for extraction and costs for marketing).
Beyond Earth® Asteroid Mining Corporation Ltd. is a partnership business that is owned and financed by Tony Kenneth, Tyson Barker and Karis Murphy. They do not intend to welcome any external business partners which is why they have decided to restrict the sourcing of the startup capital to 3 major sources.
These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings and sell of stocks
- Apply for loan from the bank
N.B: We have been able to generate about $1.5 billion (Personal savings $1.5 billion) and we are at the final stages of obtaining a loan facility of $600 million from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
14. Sustainability and Expansion Strategy
The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.
One of our major goals of starting Beyond Earth® Asteroid Mining Corporation Ltd. is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to supply our raw Nickel, cobalt, gold, silver, platinum and rhodium et al. a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.
Beyond Earth® Asteroid Mining Corporation Ltd. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to hire and retain the best hands we can get in the industry and they will be more committed to help us build the business of our dreams.
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of a facility and renovating the facility as well: In Progress
- Conducting feasibility studies: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Printing of Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of asteroid mining machines and equipment, furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Establishing business relationship with electronics and Jewelry production companies and other stakeholders: In Progress
- Purchase of spacecrafts and delivery trucks: In Progress