Google execs and James Cameron launching mysterious space company

Rumors claim the company will plan to mine asteroids

Published On: Apr 19 2012 04:20:49 PM EDT
SEATTLE, Wa. -

A new space exploration company is going to be unveiled in Seattle next week, and it has the backing of some pretty big-named investors.

Among the list of hotshots at the company's unveiling on Tuesday, April 24 are Google executives Larry Page and Eric Schmidt, as well as film maker and explorer James Cameron.

A news release posted on Wednesday said the new company, called Planetary Resources, "will overlay two critical sectors - space exploration and natural resources."

This has led some to speculate that the company will actually plan to mine asteroids, though no one has confirmed this.

The news release goes on to say that Planetary Resources will "add trillions of dollars to the global GDP" and will "create a new definition of 'natural resources.'"

Some estimates say that a typical metallic asteroid with a diameter of about a mile could contain more than $20-Trillion worth of precious metals.

The company will be officially unveiled at the Museum of Flight in Seattle on Tuesday, April 24.