Asteroids are minor planets are also known as planetoids, which are revolving around the sun. They are very small and millions in number in different sizes with size ranging from feet to miles. Many asteroids have hit Earth in past. It is said that these asteroids ate leftovers from formation of our solar system. Asteroids may be as large as Ceres, which 950 kilometers. All the asteroids are irregular in shaped and they revolve around the sun is in elliptical orbits. Generally, they are solid bodies, which are made up of rock metals such as iron, and other elements and some asteroids contains water also. An iron meteorite may contain 91 percent iron, 8.5 percent nickel, and also has cobalt. However, a stony meteorite may contains silicon, calcium, oxygen, magnesium, and many more elements. The extraction of these elements from the asteroid is called asteroid mining.

The feasibility of asteroid mining is being prepared by Keck Institute for Space Studies (KISS), which is located in California in United States. The research say that it appears to be feasible to capture and return close to the Earth, an asteroid to do the minimal work. It had been suggested that valuable elements from asteroid may be ruined and brought to Earth to build solar-power satellites and water processed from ice to refuel orbiting propelling depots, which is a cache of propellant and is placed in orbit around the Earth.

It is also estimated that silver, gold, titanium, iridium, platinum, and many more elements can be obtained by asteroid mining. It will be the great impact as the key elements,  which are needed for modern industry could be exhausted in near future.