The idea of mining asteroids seems foolish to majority of scientists. However, a few companies plans to execute this mission sometime in the future.

Recently, Planetary Resources and Deep Space Industries declared that they decided to proceed with their asteroid mining projects. The two firms obtained contracts from NASA for the rerouting of asteroid.

The U.S based company will organize two tested satellite known as Arkyd 3 and Arkyd 6. These satellite will closely analyze the system and designs of space telescopes.

Planetary Resources intends to create a wide range of all sizes space telescope. Thus far, the firm has complete the design of Arkyd 100, Arkyd 200 and Arkyd 300.

Additionally, the company informed that the entire series of Arkyd 3 will be a low Earth orbit telescope which can effortlessly analyze Earth and other possible asteroid targets.

On the other hand, Arkyd 200 is created as an interceptor. It contains a special propulsion system which can locate the asteroid that moves between the Moon and the Earth.

Nevertheless, Arkyd 300 will include upgraded propulsion systems. These propulsion systems will let the scientists investigate things present outside the Moon and the Earth.

Earlier, the company launched Arkyd 3 satellite which was lost in October 2014.  The satellite was exploded with the Antares rocket. However, this time it seems the company plans to re-build the Arkyd 3.

In the meantime, NASA commissioned a numerous studies on the possible asteroid mining. Lately, the Robotic Asteroid Prospector study found that water and a particular platinum group metals can play a vital role on the asteroid mining mission.