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Rare-earth elements are critical to the digital transformation of industries and the energy transition. The transition is heavily dependent on batteries: grid-scale batteries for balancing power grids, tiny batteries keeping smart meters alive and millions of batteries for the electrification of transport. Some vendors indicate that the availability of batteries might be their biggest risk in the foreseeable future. Additionally, electrification is affecting the semiconductor industry because chipsets need to operate at higher temperatures, causing vendors to switch from silicon to gallium nitrate. Many of the elements needed for the transition are either conflict minerals or rare, and in some cases most available resources are to be found in China or Russia. 

In order to decrease dependencies and supply chain risk, the tech industry is looking for alternatives. The year 2023 saw touchdowns on the Bennu and the Psyche asteroids, sparking increased interest in asteroid mining and the possibility of extracting these minerals as an alternative to Earth's natural resources. Here, we take a look at the technical viability of asteroid mining and its core enabling technologies.