Billionaire Plans to Start Mining the Moon for Gold

Billionaire Naveen Jain has set up a company called Moon Express to start a mining operation on the moon. His company, based in Mountain View, California, is in partnership with NASA.

Moon Express plans to send its first robotic spacecraft to the moon next year. The company plans to mine for various minerals including gold, cobalt, iron, palladium, and platinum. The company is the first private business to test a prototype of its lander, which caused it to win Google's $1 million milestone prize.

If the company finds a lot of gold on the moon that it can bring back, will it cause the price of gold to drop?



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