Galactic Gold Rush Space can be a reality now that Tech companies like Moon Express are aiming for a lunar space mining.Reports say that the estimated mineral wealth of the moon is between $150 quadrillion to $500 quadrillion-enough to create 500m billionaires!

Naveen Jain, the founder of Moon Express said that they won't be drilling holes or destroying things in the moon,it's more of collecting and harvesting.Moon Express or Moon Ex is a startup company with the goal of mining the moon for minerals and natural resources.

Moon Ex is the first private company to be granted permission by the Federal Aviation Administration allowing them to land a craft on the surface of the moon.It also offers lunar robotic transportation and data services.

According to The Guardian , the moon is rich in all kinds of minerals due to the deposit of meteors on the lunar surface over 4bn years.Now,that's a lot of minerals!

On November 2015,President Obama signed "US Commercial Space Launch Competitiveness Act" also known as "Spurring Private Aerospace Competitiveness and Entrepreneurship Act of 2015".

The law states that US companies are allowed to extract and own any materials they find in the space but no nation can claim ownership of an asteroid or other celestial bodies.

Moon Ex together with tech companies like SpaceX and Blue Origin are planning to launch next year.But,they have to wait for another 10 years to get the return value of their investments.

A market for raw materials is needed to build moon bases and refueling stations for busloads of Mars colonists.William Ostrove an analyst from Forecast International said, "If colonies on the moon or Mars become a reality, it may be cheaper to mine."

Tech billionaires are aiming to lower down the costs of space exploration.They are trying to come up with a science innovation that will lower down the cost of space travel.

For now, Space mining is still a process in the making but it looks promising. Visit Jobs & Hire  for more latest news on science and space explorations.