Asteroid Mining Telescope Ready in 21 Months, Handelsblatt Says

Planetary Resources Inc. should complete its first telescope to hunt for asteroids containing gold and other precious metals in 21 months, co-founder Peter Diamandis said in an interview published by Handelsblatt today.

The company, which is backed by Google Inc. Chief Executive Officer Larry Page and Chairman Eric Schmidt, won’t commit to a timeframe for when it will begin mining asteroids, he is quoted as saying.

To contact the reporter on this story: Allison Connolly in Frankfurt at aconnolly4@bloomberg.net.

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net.

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